FX.co ★ EUR/USD Bounced Off Support, Prepare For Further Rise

The EUR/USD pair bounced off its support at 1.1489 (38.2% & 23.6% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 1.1567 (horizontal swing high resistance).

Stochastic (34, 5, 3) bounced off its support at 3.2% where a corresponding rise could occur.

EUR/USD has rebounded from its support where we expect to see a further rise.

Buy above 1.1489. Stop loss at 1.1431. Take profit at 1.1567.