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EUR/USD reaches for first objective as 1.10 looms

Some days back I noted here, that many operators were now talking about a return to above 1.10 for the EUR/USD. Perhaps I should have noted at the time; that  I was among them, but that is not something you necessarily need to know anyway. So, the Euro managed to grind its way past a noted Fibonacci target yesterday evening, at 1.0960, reaching a high at 1.0965, before later giving back some gains, to post a US close at 1.0940. As repeated again yesterday, that 1.0960 price point was a Fibonacci rebound objective and potential resistance level (61.8% of the 1.1276-1.0448 drop). The EUR/USD has lifted off that US close, but so far today the high has only matched that seen last night, at 1.0965. That said the 1.10 handle looms close by now and of course that is likely to hold psychological resistance, if nothing else. Support levels lower down remain as they were yesterday, at 1.0862 and 1.0764, should the Euro falter to any major degree. It is just now trading at 1.0962
 

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