A technical analysis chart on EUR/USD from JP Morgan highlighting key levels for the bulls
EUR/USD managed to take another hurdle at 1.1120/29 (minor 76.4 %/pivot) support, which improved prospects of having launched a much broader recovery further, notes JP Morgan.
"But for the bulls to really gain more traction and in order to free the way for a much broader recovery towards 1.1699 and 1.1811 (int. 38.2 % on highest scales), it would take additional breaks above 1.1288 (int. 76.4 % on higher scale) and ultimately above 1.1383 (daily trend)," JPM argues.
"Particularly below 1.1288, the market remains in the danger zone," JPM adds.
