FX.co ★ Technical analysis of EURUSD

EURUSD continues to trade above the key short-term trend line support. Today price pulled back towards the trend line support but did not break it. Respecting the support is key for the short-term trend.

Red rectangle -resistance area

Blue line -support trend line

EURUSD continues to make higher lows as price touches the support trend line and bounces off of it. Support is at 1.1733 low and as long as price is above, we expect bulls to try to recapture 1.18. If price fails to hold above the trend line and breaks the support, then we expect price to move towards 1.17 at first and 1.1645 next.