FX.co ★ Technical analysis of EUR/USD for January 24, 2022

In the H1 time frame, the EUR/USD pair continues to move in an uptrend from the level of 1.1290. So, major support is seen at 1.1290, while immediate resistance is found at 1.1360.

Besides, it should be noted that the support coincides with the weekly pivot point. Today, we guess that the pair will be traded higher in the early session and try to reach the first resistance at the level of 1.1360.

The bias is neutral in the nearest term probably with a little bullish bias testing 1.1330 area which needs to be clearly broken to the upside to keep the bullish scenario strong.

A clear break above that area (1.1330) could lead the price to the neutral zone in the nearest term testing 1.1360. Thus, we confirm the bullish scenario.

On the downside, a clear break and daily close below 1.1360 could trigger further bearish pressure testing 1.1285 which represents a a weekly support 1.

Consequently, the EUR/USD pair is able to close below the support of 1.1360 on the one-hour chart; the trend will continue its bearish momentum today.

As a result, it is gainful to sell below this price (1.1360) with targets at 1.1285 and 1.1227.

However, the bullish trend is still expected for the upcoming hours as long as the price is above 1.1227 level.