FX.co ★ EURUSD challenges important support levels.

EURUSD is trading just above the crucial support of 1.12. Price shows stabilization signs. Price has many chances of a full scale reversal to the upside as bears have not under their control the trend. Yet.

Red rectangle- resistance area

Green rectangle - horizontal support area

EURUSD bulls need to step in now and recapture 1.1250 at least. Bulls need to react as bears are taking control of the trend. Holding above the green trend line support is the line in the sand for bulls. This is their last defense against bears. On the other hand bears do not want to see EURUSD break the double top at 1.1280. Breaking above it will open the way for a move towards 1.14.