After briefly piercing above the 1.1545 area resistance, EURUSD has since slipped back below the level. For now, price action continues to move within a short term bullish channel which until broken, keeps focus on a further recovery higher. If we do see a downside break, the 1.1515 level might provide some intraday support with prior highs and lows at the level. To the topside, the 1.585 – 1.1593 is the key resistance level (last week’s high) which will need to be broken to see a further topside run.
