EUR/USD bearish pattern started from 1.24 (19/04/2018 high) continues, currently trading at 1.1850 and heading along the 1.1840 range. The pair is currently trading at December 2017 levels. Hourly support and resistance are given at 1.1812 (25/12/2017 low) and 1.2323 (17/01/2018 high). The technical structure suggests shortterm downward 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).