FX.co ★ Technical analysis of EURUSD

EURUSD is trading above the key support of 1.18 and below the key short-term resistance of 1.1920. Trend remains bullish as price continues to trade inside the upward sloping channel as we have shown in previous posts.

EURUSD has support at 1.1830-1.18. Resistance is at 1.1920 and if broken then I expect price to move towards 1.2080-1.21. As long as price is inside the bullish channel we remain bullish. If support at 1.1830-1.18 fails to hold, I will be expecting a pull back towards 1.17 and maybe lower.