The euro currency regains its bullish momentum on the day. The gains came after the common currency posted declines for four consecutive days.
This led prices to fall and test the trend line which offered dynamic support. Following this, the euro made a quick rebound and is attempting to rise higher.
For the moment, price action will need to challenge the previous lows near 1.2150.
If the euro can break past this level, then we expect to see new highs forming.
However, if the common currency reverses near this level we expect a possible correction down to the 1.1900 level.