EUR/USD Bullish Bounce

EUR/USD si bouncing higher. Hourly resistance is located at 1.1878 (12/10/2017 high). T Hourly support is given at a distance at 1.1554 (07/11/2017 low). Expected to show continued short-term consolidation before heading higher towards resistance at 1.1878 ( 12/10/2017 high).

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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