FX.co ★ EURUSD near important Fibonacci support

EURUSD is trading just below 1.13 near important short-term Fibonacci support levels, with high chances of a reversal to the upside if bulls manage to break above 1.1320. Short-term bullish divergence signals are seen but no reversal confirmation yet.

Black line - RSI resistance trend line

EURUSD is trading around 61.8% Fibonacci level and remains above the green trend line support. As long as price is above this trend line we remain bullish medium-term. The RSI has broken above the black trend line resistance but price has not broken above short-term resistance of 1.13-1.1320. Breaking above 1.1320 will signal a move back towards 1.14. Most probable scenario is to see a new upward move, but first we might see a new lower low around 1.1260 and a new bullish divergence before reversing to the upside.