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  • EUR/USD broke the former weekly high at 1.1645 in early Europe to reach 1.1676. EUR/USD is now consolidating the recent 170-pip bull move of the last 24 hours.
  • EUR/USD bulls will need to breakout above the current week’s high in order to extend the bull move. However, a failure to break above the level can trigger some profit-taking and short-selling as the week comes to an end.  

EUR/USD 15-minute chart

Spot rate:              1.1651
Relative change:   0.40%  
High:                     1.1676
Low:                      1.1599

Trend: Neutral  

Resistance 1: 1.1676 current week’s high
Resistance 2: 1.1730, 23.6% Fibonacci retracement from mid-April-May bear move
Resistance 3: 1.1800 figure
Support 1: 1.1645 Tuesday’s high and 50-period SMA (4h)
Support 2: 1.1600 figure
Support 3: 1.1550 figure
Support 4: 1.1508, current 2018 low