Testing rising trendline.
(By Peter Rosenstreich)
• EUR/USD is resting on key support at 1.1758. Break will trigger bearish extension to strong support is given at a distance at 1.1662 (17/08/2017 low). Key resistance is located at 1.1878 (12/10/2017 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).