EUR/USD bearish pressures are on. Hourly resistance can be found at 1.1910 (02/08/2017 high) while hourly support given at 1.1689 (09/08/2017 high) has been broken. Stronger support lies at 1.1613 (26/07/2017 low). Expected to show further short-term selling pressures.
In the longer term, the momentum is now turning largely positive. We favour a continued bullish bias. Key resistance holding at 1.1871 (24/08/2015 high) has been broken while strong support lies at 1.0341 (03/01/2017 low).
