- EUR/USD bear trend is on hold as bulls have taken the lead for the fifth day in a row.
- EUR/USD broke above the bull channel and is currently trading above the 50, 100 and 200-period simple moving averages suggesting strong bullish momentum. Bulls next target is the current daily high at 1.1542 followed by 1.1572 July 19 low and 1.1600-1.1620 area.
- A sustained bear breakout below 1.1400 would negate the bullish bias.
Spot rate: 1.1537
Relative change: 0.48%
High: 1.1542
Low: 1.1480
Main trend: Bearish
Short-term trend: Bullish above 1.1400
Resistance 1: 1.1542 current daily high
Resistance 2: 1.1572 July 19 low
Resistance 3: 1.1600-1.1620 area, figure and July 27 low
Resistance 4: 1.1667 August 2 high
Support 1: 1.1506 June 21 low
Support 2: 1.1483 intraday swing high (August 10)
Support 3: 1.1445 last week high
Support 4: 1.1430 August 14 high
Support 5: 1.1400 figure
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