EUR/USD created a double bottom at 1.1730 [Fib. 23.6% retracement of April – September uptrend] yesterday and closed in a bullish note. Today also the pair able to manage the bullish momentum and broke the 1.1820 resistance. The statement from Spanish government that it will move ahead with suspension of Catalan autonomy is the main reason behind this bullish momentum. The pair is currently trading around 1.1843 and the H4 200 SMA at 1.1854 will act as a short term resistance. Retest of the 1.1820 resistance turned support level is possible before the next up move.
Support: 1.1820, 1.1785 & 1.1730/20
Resistance: 1.1854, 1.1880 & 1.1935
Recommendation: Buy at 1.1820 with SL below 1.1785 and TP: 1.1850/1.1880/1.1900