Technical Analysis

EUR/USD Consolidating Below 1.1800

Typography

EUR/USD bullish pressures are still on despite ongoing consolidation. Hourly resistance is given at 1.1910 (02/08/2017 high). Hourly support can be found at 1.1715 (08/08/2017 high). Stronger support lies at 1.1613 (26/07/2017 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 holding at 1.1871 (24/08/2015 high) has been broken while strong support lies at 1.0341 (03/01/2017 low).

Author: Swissquote Bank SA Website: http://en.swissquote.com/fx
Swissquote Bank SA
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