The EUR/USD pair faced resistance at the level of 1.2193, while minor resistance is seen at 1.2140. Support is found at the levels of 1.2056 and 1.2061. Last week, the EUR/USD pair continued to move upwards from the level of 1.2056. The pair rose from the level of 1.2056 to the top around 1.2140. In consequence, the EUR/USD pair broke resistance, which turned into strong support at the level of 1.2056. Today, the level of 1.2056 is expected to act as major support. Hence, we expect the EUR/USD pair to continue moving in the bullish trend from the support level of 1.2056 towards the target level of 1.2140. If the pair manages to cross the level of 1.2140, the market will indicate the bullish opportunity above the level of 1.2140 in order to reach the second target at 1.2193 to test the second resistance on the H1 time frame. However, the spot of 1.2193 remains a significant resistance zone. Thus, the trend will probably be rebounded again from the second resistance as long as the level of 1.2193 is not breached.
The material has been provided by InstaForex Company - www.instaforex.com
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