(06 NOVEMBER 2017)EUR / USD:Significant selling pressures.

Significant selling pressures.

(By Yann Quelenn)

• EUR/USD is biased to the downside after

setting a new hourly support at 1.1575

(27/10/2017 low). Hourly resistance is located at

1.1658 (30/10/2017 high). Expected to show

some short-term consolidation.

• In the longer term, the momentum is now

turning largely positive. We favour a continued

bullish bias. Key resistance is holding at 1.2252

(25/12/2014 high) while strong support lies at

1.0341 (03/01/2017 low).