EUR/USD’s short-term bearish momentum has abruptly ended and the pair is now moving higher. Hourly resistance is now given at 1.1902 (20/12/2017 high). Hourly support is given at 1.1718 (12/12/2017 low). Expected to show continued increase.
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).
