The pair found a resistance level.
Despite the opening of yesterday's trading session in favor of the dollar, the euro is trying to win back its positions and at the moment our pair is showing a positive trend. After the decline to the level of 1.1550, the pair went up and turned around from the mark of 1.1610 which happened to be the resistance level.
Today, we expect a number of macroeconomic reports from the eurozone and some data on the US Labor Market to be released. However, we believe that the dollar may strengthen and the pair may again begin a downward movement, despite the fact that the dollar index is still below the 95.00 level.
The data recently released in Germany showed a worse performance than predicted. Thus, the pair could not overcome the mark of 1.1605 and turned from it.
Therefore, we advise you to wait for a new test of this mark and take short positions in case of a new rebound from this level. Consider the marks of 1.1550 and 1.15 as your goals.
