EUR/USD Upward Trend

EUR/USD remains stable. The pair is now forming a rectangle and is maintained at a resistance given at 1.2325 (17/01/2018 high) and hourly support at 1.2165 (17/01/2017 low). The technical structure suggest further short-term upside moves.

In the longer term, the momentum is turning largely positive. We favor a continued bullish bias. Key resistance is holding at 1.2856 (15/10/2014 high) while strong support lies at 1.0341 (03/01/2017 low).

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