FX.co ★ Short-term technical analysis on EURUSD

EURUSD remains under pressure. Price is below 1.21 and the last few sessions it mainly moves sideways between 1.2050 and 1.22. These two levels we need to keep a close on because a break above or below will give the tone for the next weeks.

EURUSD is trading below the red resistance trend line. As long as price is below it and above 1.2050 we remain neutral. A break above the red trend line will make us change to bullish. A break below 1.2050 will turn bearish. Traders need to be patient and wait as price is in a sideways trend now. So far support has been respected at 1.2050 and so was resistance.