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EUR/USD – stuck at falling trend line on hourly

FX:EURUSD   Euro Fx/U.S. Dollar
Resistance – 1.1236, 1.1283, 1.1342

Support – 1.12, 1.1180, 1.1144

  • Euros’ failure to sustain above 1.1236 (38.2% of 1.0463-1.1714) followed by drop below daily low of 1.1205 levels would open doors for a cut through 1.1180 and move towards 1.1150 levels.
  • Moreover, hourly chart also shows rejection at falling trend line , which adds credence to possibility of a sell-off below 1.1205 levels.
  • On the higher side, only an hourly close above falling trend line could signal intraday bearish invalidation and a possible rise to 1.1260-1.1280 levels.
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