EUR/USD: looking to hold above 1.1765

EUR/USD: looking to hold above 1.1765

EUR/USD is still consolidating losses below the 50 SMA at H1 chart and the support zone of 1.1765 seems to be a solid hurdle to overcome in the short-term. We expect that such level could hold in the short-term in order to give a boost to the pair and put it on the way to reach the next mid-term target, according to our Fibonacci projections, around 1.2020, which coincides with the -23.6% Fibonacci level. If it manages to break below 1.1765, then the next target should be the 1.1712 level.

RSI indicator is entering the neutral territory is pointing to the upside.

EURUSDH1.png

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