Extended bulls crack key Fibo barrier but may slow here
The Euro cracked strong Fibo barrier at 1.1393 (61.8% of 1.1569/1.1107) on Monday, in extension of past three days 1.6% advance, which resulted in break and close above falling 200SMA (1.1350) on Friday.
Strong bullish momentum remains intact and supportive for break through 1.1393 /1.1400 pivots (Fibo / psychological barrier) that would open way towards 20 Mar lower top at 1.1448.
On the other side, overbought stochastic and weaker than previous month German ZEW data (June 94.2 vs May 95.2) may slow bulls.
Failure to clear 1.1393 barrier would result in consolidation, which needs to hold above broken 200SMA to keep bulls intact.
Break and close below 200SMA would signal deeper pullback.
Res: 1.1393; 1.1437; 1.1448; 1.1460
Sup: 1.1365; 1.1350; 1.1300; 1.1279