- EURUSD reversed from support area
- Further gains are likely
EURUSD recently reversed up from the support area lying between the key support level 1.1125 (which has been reversing the price from the end of April) and the lower daily Bollinger Band.
The upward reversal from this support area coincided with the oversold reading on the daily Stochastic indicator.
EURUSD is expected to rise further and retest the next resistance level 1.1200 (former support from June and the start of July).