EURUSD has broken the resistance implied by its horizontal resistance, confirming an improving technical structure. Hourly resistance can be found at 1.2090 (intraday high) while hourly support lies at 1.2023 (intraday low). Stronger support is given at a distance at 1.1662 (17/08/2017 low). Expected to show renewed bullish 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).
