EUR/USD inaugurated Monday's trading session with 26-pips loss and 1.1182 low. Currently, U.S Dollar is showing signs of recovery, inching higher with 97.24 high for today.
Technically, the pair is still trading above 20-EMA at 1.1175 which keeps the market in an uptrend destination. Closing above 1.1200 level, suggests for more attacks and the pair will test R1 at 1.1228, then 1.1252. On the other hand, if EUR/USD closed below 20-EMA, expectations for a correction phase within Friday's range at 1.1130+.
Fundamentally, Macron's victory for French Parliament should give a boost for the pair and keeping the trend bullish. In addition to that, President of Deutsche Bank will give a speech today at 3:00 PM GMT, along with FOMC members Dudley at 12:00 PM GMT and Evans at 11:00 PM GMT which will have an impact on both EURO and U.S Dollar depending if its a hawkish or dovish stance.
Trend: Bullish / Sideways
Resistance levels: R1 1.1203, R2 1.1228, R3 1.1252
Support levels: S1 1.1177, S2 1.1160, S3 1.1136
Summary: EUR/USD still remains bullish and rejection for dips at 20-EMA calls for additional attacks at 1.2228 and 1.1252. Closing above 1.1200 is positive. The other scenario, penetration for 1.1177 level will increase selloffs and wash towards 1.1160 and 1.1136. Dips should fight 1.1160 and reject 1.1136 but in case EUR/USD closed below 1.1136, the trend has shifted bearish.