EURUSD has drifted higher above the support at 1.1910. However, as long as prices remain above the resistance at 1.1840 (rising trendline), the short-term technical structure is biased to the downside. Hourly resistance can be found at 1.2070 (29/08/2017 high) while hourly support lies at 1.1820 (31/08/2017 low). Stronger support is given at a distance at 1.1662 (17/08/2017 low). Expected to show renewed bullish pressures.
In the longer term, the momentum is now turning largely positive. We favour a continued bullish bias. Key resistance is holding at 1.2252 (25/12/2014 high) while strong support lies at 1.0341 (03/01/2017 low).
