EUR/USD Technical Analysis: Bull run could extend to the 1.1745/50 band near term

• The pair is prolonging the rally and is approaching the critical 1.1700 handle so far this week.
• The recovery already navigates its third consecutive week, advancing almost 4 big figures since lows in sub-1.1300 area seen earlier in the month.
• The continuation of the up move hinges on the better mood in the risk-associated universe and has its immediate target at the 1.17545/50 band.
• Sellers should be back in control once the 4-month support line is breached as well as the 1.1500 neighbourhood.

EUR/USD daily chart

Daily high: 1.1700

Daily low: 1.1662

Support Levels

S1: 1.1617

S2: 1.1556

S3: 1.1518

Resistance Levels

R1: 1.1717

R2: 1.1755

R3: 1.1816