Contributors Technical Analysis EUR/USD Weak Bounce

EUR/USD Weak Bounce

EUR/USD is bouncing off from 1.1720 low but losing momentum below 1.1812 (25/12/2018). The pair is currently at mid-December 2017 levels. Hourly support and resistance are now given at 1.1720 (21/05/2017 low) and 1.2323 (17/01/2018 high). The technical structure suggests short-term increase.

In the longer term, the momentum is turning largely negative. We favor a continued bearish 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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