- EUR/USD has carved out a falling channel on the 15-minute chart.
- A breakout will likely accelerate the preceding uptrend from 1.17.
EUR/USD’s immediate bias remains neutral, with the exchange rate trapped in a bearish channel on the 15-minute chart.
A move through the upper end of the falling channel, currently at 1.1772, would signal a resumption of the rally from Oct. 19 lows near 1.17 and open the doors for 1.18.
However, a daily close above the Oct. 9 high of 1.1831 is needed to revive the broader bullish outlook.
Alternatively, a break below 1.1760 could invite stronger selling pressure, yielding a deeper pullback to 1.1740. The area around 1.1760 has offered support three times over the past 24 hours.
15-minute chart
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Trend: Bullish above 1.1772
Technical levels
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