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EURUSD Intraday Analysis

EURUSD (1.1873): The euro maintained bullish gains for a fourth consecutive day as price breached the resistance level of 1.1822 – 1.1843. Clearing this resistance will now see further gains in the currency pair as it targets the potential unfilled gap at 1.1948. However, establishing support near the newly breached resistance level will add more validity to the upside. Despite the anticipated move towards 1.1948 EURUSD longer term bias remains to the downside. Thus, a potential reversal near the above target could signal a possible move towards 1.1822 – 1.1843 region followed be a further decline to the previous support at 1.1720.

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