FX.co ★ Elliott wave analysis of EUR/USD for July 14, 2023

EUR/USD continues to rally higher towards the next upside target at 1.1444. In the longer term, we are looking for EUR/USD to move closer to the 1.2007 target as a minimum.

Short-term support is seen near 1.1130 with solid support placed at 1.1033, which previously acted as resistance, but now, has shifted character to support after the clear break on Wednesday. In the short term, we could see the pace of the rally settle down, but the bias will remain towards the upside.