- EUR/USD main bear trend is at risk as the bulls are breaking above key resistance levels, such as the 1.1628 swing high and the 4-month old April 17 bear trendline.
- EUR/USD bullish momentum remains intact as bulls keep the market well above the 1.1628 level and the main simple moving averages. EUR/USD broke above the Asia high and the next target is very close at 1.1667 (August 2 high) followed by 1.1750 supply level.
- A sustained bear breakout below 1.1628 would invalidate the bullish bias.
Spot rate: 1.1661
Relative change: 0.36%
High: 1.1665
Low: 1.1594
Main trend: Bearish
Short-term trend: Bullish above 1.1628
Resistance 1: 1.1667 August 2 high
Resistance 2: 1.1750 supply level
Resistance 3: 1.1800 figure
Support 1: 1.1654 August 27 high, Asia high
Support 2: 1.1628 August 8 high key level
Support 3: 1.1600 figure
Support 4: 1.1572 July 19 low
Support 5: 1.1542 supply/demand level
Support 6: 1.1500 figure
Support 7: 1.1483 intraday swing high (August 10)
Support 8: 1.1445 last week high
Support 9: 1.1430 August 14 high
Share
