EUR/USD consolidating a double cycle
EUR/USD has been rallying across the board and it’s trying to consolidate above the 1.1800 mark. However, the pair is facing a strong resistance in the 1.1845 level, which should give up in favor of the bulls in order to test the Fibonacci extensión zone of 100% at 1.1882. Such move could be the indication of a double cycle held since December 12th lows.
RSI indicator remains in the positive territory, favoring to the bulls.