EURUSD challenged the 1.12 level once again, but bulls were not strong enough for a second time to hold above 1.12. Price is back below the horizontal resistance (red rectangle) at 1.1170. Price so far has respected short-term higher highs and higher lows. In order for bulls to remain in control of the trend, we should see price starting to rise after Monday.
Blue rectangle - support
Green lines- bullish channel
EURUSD has made another negative weekly performance and it is testing the weekly bullish green channel. Price has not managed once again to close above the red rectangle resistance. As long as price is below it bulls need to be very cautious. This past week's low is important short-term support. Bulls need to recapture 1.1170-1.12 in order to have hopes for a move towards 1.13.
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