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EUR/USD Slight Increase

EUR/USD recovered from 1.2155 low, stabilized at the1.2340 range. The pair is currently contained between hourly support and resistance at 1.2112 (12/01/2018 low) and 1.2434 (06/02/2018 high). The technical structure suggests further sideway 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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