EUR/USD consolidating a double cycle

EUR/USD consolidating a double cycle

EUR/USD has been rallying across the board and it’s trying to consolidate above the 1.1800 mark. However, the pair is facing a strong resistance in the 1.1845 level, which should give up in favor of the bulls in order to test the Fibonacci extensión zone of 100% at 1.1882. Such move could be the indication of a double cycle held since December 12th lows.

RSI indicator remains in the positive territory, favoring to the bulls.

EURUSDH1.png

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