EUR/USD Bounced Off The Support

The fundamentals this week may have pushed GBP/USD to continue on its way down, but so far they failed to have as strong of an effect on EUR/USD. The pair did briefly drop again below the support at 1.1107 coinciding with (89)MA on the daily filter chart, but that proved to be a false breakout. Should the pair manage to break below that level next week we can expect a further move to the downside until it reaches the support at 1.0950. In my opinion, however, EUR/USD is more likely to climb again towards the resistance at 1.1233, and should it break above that level – perhaps even higher.