Bouncing further.
(By Peter Rosenstreich)
• EUR/USD has broken the resistance at 1.1736
leading to renewed buying pressure. The shortterm
trend remains negative as long as prices
remain below hourly resistance at 1.1993
(14/05/2018 high). Hourly support is given at
1.1510 (29/05/2018 low).
• In the longer term, the momentum is turning
largely negative. We favor a continued bearish
bias. Key resistance is holding at 1.2886
(15/10/2014 high) while strong support lies at
1.0341 (03/01/2017 low).
