EUR/USD is bouncing back following slight decline at 1.2286. Expected to increase along the 1.2360 range. Hourly support and resistance are given at 1.2165 (17/01/2018 low) and 1.2537 (31/01/2018 high). The technical structure suggests short-term increase.
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).
