EUR/USD bearish pattern started from 1.24 (19/04/2018 high) pauses, the pair is bouncing off from 1.1938 low, heading along the 1.20 range. The pair is currently trading at midJanuary 2018 low. Hourly support and resistance are given at 1.1812 (25/12/2017 low) and 1.2323 (17/01/2018 high). The technical structure suggests short-term upward 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).