The Euro initially pulled back on Monday, hitting our support level at 1.1740, before reversing and rising significantly higher despite holiday-thinned trade and a better-than-expected US ISM Services PMI. The Euro of course continues to look very weak longer-term, unless the bulls manage to break above resistance at 1.1820 and more importantly the 200-day SMA around 1.1830.

Support: 1.18 / 1.1763
Resistance: 1.1820 / 1.1830

 

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