EURUSD today bounced strongly back towards the broken support trend line and after back testing it price got rejected. Price action today gave another short-term bearish signal for EURUSD as bulls could not push price above 1.1230.
Blue rectangle - horizontal support
Black lines- short-term support trend lines
Yesterday EURUSD broke below the short-term upward sloping support trend line. Today price bounced for a back test and got rejected. Support is now found at 1.1180 and resistance at 1.1230. EURUSD has made no bullish move today so bulls have a lot of work if they want to change the trend in this pair. Bears remain in control of the short- and medium-term trend as long as price is below 1.1260.
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