EUR/USD is bouncing off from 1.2160 low, breaking hourly support at 1.2165 (17/01/2018). The pair is heading along the 1.2185 range. The pair is trading at mid-January 2018 low. The pair is currently maintained between hourly support and resistance given at 1.2112 (12/01/2018 low) and 1.2506 (25/01/2018 high). The technical structure suggests short-term upward trading 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).