FX.co ★ Short-term technical analysis of EURUSD for August 25th, 2020

EURUSD is trading above 1.18 but looks too weak to break above the 1.1830-1.1840 resistance. This weakness will most probably bring price back below 1.18 to test recent low at 1.1750. Bulls do not want to see this support area fail to hold.

Green line- support

EURUSD is bulls are trying to push above 1.1848 in order to start a new sequence of higher highs and higher lows. Support remains at 1.1750-1.1720. Breaking below this level will open the way for a move towards 1.16-1.15. On the other hand if bulls manage to break above the red resistance trend line we could see another move towards 1.19 and higher. For now, as long as price is below 1.1850 we remain cautiously bearish.