FX.co ★ Short-term view on EURUSD.

EURUSD made failed attempt to break above the 1.1370 resistance. Price is trading still inside the trading range and price seems to be getting rejection signs at 1.1370-1.1390. Support by recent lows and the upward sloping short-term trend line, is found at 1.1335.

Red lines- trading range

Blue line- support

A break below the blue support trend line at 1.1335, will be a bearish signal. If this happens, I expect next to see price move towards the lower trading range boundary around 1.12. Bulls need to defend the blue trend line and recapture the 1.1370-1.1390 resistance area. There is no clear direction on EURUSD yet, so traders better be cautious.