FX.co ★ EURUSD still in bullish trend

EURUSD is trading just a bit higher than yesterday. Price remains firmly above 1.22 and technically trend remains bullish as price continues making higher highs and higher lows. There is no sign of a reversal yet, just a warning sign by the RSI.

EURUSD continues making higher highs and higher lows. Short-term support is found at previous highs at 1.2165-1.2175. Next support is at the lower channel boundary at 1.2115. As long as price is above these levels bulls remain in control of the trend. Next resistance is at 1.23-1.2315. At current levels I prefer to be neutral EURUSD as the upside potential is limited, because the RSI confirms that the bullish momentum is weakening.