EUR/USD remains in a bearish trend after the rejection last week at 1.18. Prices bounced on Friday but as we said in our previous analysis, any bounce should be seen as an opportunity to sell. We remain bearish looking for a move towards 1.15-1.14.
Dark blue dots - maximum strength support
Redn line - major resistance
EUR/USD has support at 1.1560 and next at 1.1480. Resistance is at 1.1630 and next at 1.1660. Bulls will need to break above 1.1660 and close above it in order for us to consider that a low is in. Major resistance remains at 1.1810. A break above it will open the way for a push towards 1.19-1.21.
The material has been provided by InstaForex Company - www.instaforex.com