The EUR/USD pair has retraced 50% of the last wave down and hit the level of 1.0930. The next target for bulls is 61% Fibonacci retracement level located at 1.0949. The intraday technical support is located at 1.0865 and 1.0893.
The bulls are clearly in control of the market and there is no indication of a up trend termination or reversal, despite the fact that the corrective cycle was quite deep and solid. When the up trend is resumed, the next target for bulls is seen at the level of 1.1054 - 1.1097, which creates a supply zone for bears. Larger time frame trend remains up.
