- EUR/USD bear trend is currently on hold as buyers are creating a strong bull reversal.
- EUR/USD is relentlessly advancing in a bull channel with rising and widening simple moving averages suggesting a strong bull momentum. Buyers have conquered the 1.1700 figure and the next target is the 1.1750 supply level which was an important level in July.
- A sustained bear breakout below 1.1542 would invalidate the bullish momentum.
Spot rate: 1.1711
Relative change: 0.27%
High: 1.1722
Low: 1.1662
Main trend: Bearish
Short-term trend: Bullish above 1.1542
Resistance 1: 1.1750 supply level
Resistance 2: 1.1800 figure
Resistance 3: 1.1850 June 14 swing high
Support 1: 1.1700 figure
Support 2: 1.1667 August 2 high
Support 3: 1.1654 August 27 high, Asia high
Support 4: 1.1628 August 8 high key level
Support 5: 1.1600 figure
Support 6: 1.1572 July 19 low
Support 7: 1.1542 supply/demand level
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