The euro-dollar exchange rate (EUR/USD) continues to experience very fluctuating trading sessions without a clear directionality and could impose itself upwards only after exceeding the target of 1.11400.
In the best case scenario for the bulls, once the 1.11400 level has been exceeded, it would be possible to start an accumulation towards 1.12800, but the bearish pressure could soon become excessive.
On this front, however, I do not believe a spontaneous rise above the target of 1.11400 is likely. As reiterated several times, a temporary push provided by the respective central banks seems fundamental to me, to break the resistance of 1.11400 and allow the cross to move easily up to the relative highs of 1.12800.
If the stimulus in question were to be missing, to break the resistance of 1.11400, then the euro-dollar exchange rate could slide downwards even below the current levels of 1.0950/1.0940 (which have contained declines several times) and towards new supports at 1.08500, 1.07600 and 1.06400.
