Yesterday brought us a small rise in euro value and slowed the bearish correction down a bit. Once bears managed to break 1.3470, they gave up their initiative and allowed bulls to come back above few recent resistances. Buyers managed to come back above 1.3540 (and this levels lost its relevance), 1.3570 and stopped just slightly below the psychologically important barrier of 1.36. The European session has started with a battle at 1.3570 and 1.36 as the closest resistances (both yellow areas).
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We can assume that as long as investors stay below 1.36, the correction is still on. Once bulls will manage to break this level, they should be able to start an upswing aiming at recent highs above 1.37 .
The economic calendar for EUR/USD is empty today, so this is a chance for more technical trading on this pair that should respect recent S/R levels more than usual.