EUR/USD is recovering from 1.2155 low, approaching hourly resistance at 1.2434 (06/02/2018 high). Hourly support at 1.2165 (17/01/2018) is now broken, new hourly support is given at 1.2112 (12/01/2018 low). The technical structure suggests further upside moves.
In the longer term, the momentum is turning largely positive. We favor a continued bullish bias. Key resistance is holding at 1.2886 (15/10/2014 high) while strong support lies at 1.1554 (08/11/2017 low).
. Hourly support at 1.2165 (17/01/2018) is now broken, new hourly support is given at 1.2112 (12/01/2018 low). The technical structure suggests further upside moves.){kind=link}