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Looking at EURUSD Chart, we can see the impressive run-up it had since the fall in the 1.112 the past week, rising slowly and steadily during the start of this week, from the support to 1.125 range where it consolidated its gains and on Friday it broke through the 1.132 resistance, reaching as high as 1.1475 but settled down in the 1.143 regions. Now 1.1475 acts as the closest resistance level and 1.1325 can be deemed support, with 1.14 being the closest but temporary support. It is currently found trading at a 1.143 price range.
Today we could expect an extension of the short-term trend and move towards and above 1.1475 as the positive momentum may be at play.
If however, it does not manage to consolidate or hold above the 1.145 range then a move towards the 1.1325 support can be expected.
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