Monday, June 12, 2023
The EUR/USD pair dropped to 0.9600, the lowest level since 2002, but then bounced back strongly, especially around this crucial support level.
The bulls were not stopped by the next resistance level at 1.0100, and they pushed the prices higher along the lower edge of the shown channel. This led to reaching new bullish targets at 1.0250, 1.0500, and 1.0600.
The bulls also dominated the price action around the key level of 1.0550-1.0600, resulting in more bullish continuation towards 1.0800.
In addition, there is a chance of more bullish movement towards the nearest resistance zone around 1.1150-1.1200.
On the flip side, any bearish pullback to the price levels of 1.0500 should be considered as a good long-term buying opportunity.
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