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Sideways price action.
(By Yann Quelenn)
• EUR/USD is still biased to the downside
despite the current rebound. Hourly resistance is
located at 1.1690 (03/11/2017 high). Hourly
support is given at 1.1554 (07/11/2017 low).
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).
