Support at 1.0550 held and EURUSD rebounded late last week. The pair is now trading above 1.07 as rapidly evolving fundamentals are driving the market action (see USD and EUR fundamentals sections).

To the upside, 1.0730 is resistance, which EURUSD has already reached. The 1.08 zone should also be resistance, and above it, the key resistance in the current picture remains at 1.10.

To the downside, all focus is on the lows at 1.0530 - 1.0550. A new test toward this zone again can’t be excluded as a possibility.