EUR/USD: The market is still in a short-term climb with only shallow reactions mustered on attempts above 1.31. With apparent support in the mid-1.30s another shot higher looks likely – closer to but not above 1.32. Loss of 1.3050 would drop the downside guard and 1.3000/1.2950 could see some action again. The key ref area, which if broken, would confirm that the correction is terminated remains located at 1.2838/21. Resistance: 1.3100, 1.3110, 1.3195, 1.3225, 1.3245. Support: 1.3045, 1.2960, 1.2945, 1.2985, 1.2838/21.
Read the full report: Technical Alert
SEB