EUR/USD has broken strong support given at a distance at 1.1613 (26/07/2017 low) before bouncing back higher. Key resistance is located at 1.1878 (12/10/2017 high). Expected to show some short-term consolidation.
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).
