The euro currency is trading mixed with prices confined within Monday’s range. In the short term charts, we see the euro holding on to the support area near 1.1261.
We now expect the consolidation between the 1.1261 support and 1.1347 resistance levels.
A breakout from this level will confirm the near term upside in prices. The bias is to the upside as we see the Stochastics likely to move higher.
The upside breakout from the ascending triangle is also giving validation to this view.
However, a close below 1.1261 will see the euro posting declines.