FX.co ★ EUR/USD Intraday Technical Analysis

The spot rate is approaching the lower limit of its medium term bullish channel in 1.3310 indicating a possibel rebound. However, a breakdown of these levels will reveal significant potential aentailing a bearish channel.

Technical indicators do not provide clear signals but as the support remains unbroken, the assumption of a rebound remains relevant. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.

According to previous events, the market indicates a bullish opportunity at level 1.3310 with 1st objective 1.3370 and 1.3390. A breakdown in 1.3290 will reverse this scenario.