The euro currency is looking to break out from the technical resistance range of 1.2177 and 1.2144.
However, price action remains weaker as it struggles to break out from this range. Meanwhile, the ascending triangle pattern continues to remain in play for the moment.
In the event that prices break out above 1.2177, then we would see a rise toward 1.2300 at the very least.
The stochastics oscillator currently is moving down from the overbought levels and therefore signals that price action could potentially push lower.
However, this is subject to price is breaking the minor trend line that we see for the moment.
Or breakdown below this trendline will see the euro currency once again attempting to slide towards the technical support near 1.2050.
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