Downside of EUR/USD Should be Contained

Technical Reports

Trading is neutral, as the pair is staying in a range below 1.1444. Pivot points are at: (S1) 1.1359; (P) 1.1392 (R1) 1.1454.

Downside of the pair should be contained by resistance 1.1291. Breach of 1.1444 will prolong the growth from the minimum of 1.0339 to 1.1615 resistance. Breach of 1.1291 will shift attention to 1.1118 support.

The breach of 1.1298 resistance should argue a medium term trend reversal. According to bullish convergence in weekly MACD, the bottom was created at 1.0339. Another rally should head towards 55 month EMA. Firm breach in that place will align 38.2% retracement of 1.6039 to 1.0339 at 1.2516.