EURUSD confirmed another higher low at 1.1192 last week but the market needs a more aggressive rally above the 1.1411 top to resume confidence on the uptrend which started from the 1.1106 bottom. The short-term risk is currently looking neutral-to-positive as the RSI is trying to hold strength above the 50 level and the Stochastics are positively sloped below the 80 overbought mark. Immediate resistance to additional upside corrections could be detected around 1.1283, where the 38.2% Fibonacci retracement of the 1.1569-1.1106 bearish wave and the 20-day simple moving average (SMA) are located. A decisive close above ... (full story)