EurUsd is trying for a new local high
As I've written last week, EurUsd will probably break above 1.1 resistance.
CPI data brought us the fuel for the break and now the pair is trading at 1.1233, near the local high.
The price is consolidating these gains at this moment and a new high could follow this consolidation.
In my opinion, we will not have a retest of the 1.11 support, this being too obvious and too many are waiting to buy this support.
With this in mind, dips under 1.12 should be bought, and the target for the next leg up could be 1.1350
CPI data brought us the fuel for the break and now the pair is trading at 1.1233, near the local high.
The price is consolidating these gains at this moment and a new high could follow this consolidation.
In my opinion, we will not have a retest of the 1.11 support, this being too obvious and too many are waiting to buy this support.
With this in mind, dips under 1.12 should be bought, and the target for the next leg up could be 1.1350
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