Outlook in EURUSD remains neutral as long as 1.0928/1.0870 support holds on a daily closing basis, resistance comes at the 1.1000/1.1061 levels, a halt is likely but a break would open 1.1151 before the next fall. However, a clear break above the 1.1151 levels will extend recovery towards the 1.1326 levels before the next fall..

On the downside, support comes at the 1.0928 levels ahead of the 1.0870 levels (main), a clear break -sustained breakout – below the 1.0870 levels will restore the downside momentum and open the 1.0818 levels , a halt is likely but further down will pave the way towards the 1.0665 levels ahead of the 1.0519 levels.

In all, as long as 1.0870/1.0928 support holds , the EURUSD remains in recovery mode and further upside towards the 1.1061/1.1151 levels couldn’t be ruled out, below 1.0928/1.0870 will restore the downside momentum and open the 1.0818/1.0665 levels.

 

EURUSD Daily Forecast Jun 02 2015

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