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EUR/USD Trying To Bounce

EUR/USD is bouncing on support at 1.2223 (23/01/2018 low). Support is located at 1.2190 (15/01/2018 base low). Hourly resistance can be found at 1.2297 (15/01/2018 high). The technical structure suggests further short-term downside moves.

In the longer term, the momentum is turning largely positive. We favor a continued bullish bias. Key resistance is holding at 1.2886 (15/10/2014 high) while strong support lies at 1.1554 (08/11/2017 low).

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