- After finding support at 1.1600, EUR/USD has now reached it first potential resistance zone at 1.1640-1.1649.
- EUR/USD pullback up seems to have morphed into a bullish reversal as EUR/USD gained 50 pips in only three hours.
- If EUR/USD bulls overcome 1.1640-1.1649 resistance, the next scaling point to the upside is seen near 1.1672 June 27 high.
EUR/USD 15-minute chart
Spot rate: 1.1644
Relative change: -0.15%
High: 1.1665
Low: 1.1602
Trend: Neutral
Resistance 1 1.1640-1.1649 area, key level and July 12 low
Resistance 2: 1.1672 June 27 high
Resistance 3: 1.1700 figure
Resistance 4: 1.1730-1.1740 area, 23.6% Fibonacci retracement from mid-April-May bear move and last week’s open.
Resistance 5: 1.1790 last week’s high
Resistance 6: 1.1851-1.1854 area, June high and 38.2% Fibonacci retracement from mid-April-May bear move
Support 1: 1.1600-1.1613 figure and last week’s low
Support 2: 1.1560 June 14 low
Support 3: 1.1508 current 2018 low
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