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EUR/USD Continued Consolidation

EUR/USD is consolidating lower. Hourly resistance can be found at 1.2070 (29/08/2017 high) while hourly support lies at a distance at 1.1662 (17/08/2017 low). Expected to show increasing bearish pressures.

In the longer term, the momentum is now turning largely positive. We favour a continued bullish bias. Key resistance is holding at 1.2252 (25/12/2014 high) while strong support lies at 1.0341 (03/01/2017 low).

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