(11 JUNE 2018)EUR / USD:Bouncing further.

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).