FX.co ★ Technical analysis on EUR/USD for June 21, 2018

The EUR/USD pair is near its 2018 lows just 50 pips above 1.15. Next major support is at 1.1450. However in the short-term we observe a bullish wedge pattern being formed together with bullish divergence warning signs on the 4-hour chart.

Blue upward sloping line - bullish divergence

The EUR/USD pair has resistance in the area of 1.1575-1.1580. A break above this level could provide a nice short-term bullish signal for a move towards 1.1650-1.17. Support is at 1.1520. A break down below this level will open the way for a move towards 1.1450 at least.