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EUR/USD European session outlook

FX:EURUSD   Euro Fx/U.S. Dollar
Resistance – 1.1398 (trend line hurdle + hourly 50-MA), 1.1439, 1.1477

Support – 1.1369-1.1357, 1.13, 1.1236

  • Euro’s bullish break above 1.1398 on hourly chart would open doors for a rally to 1.1439-1.1477 levels, given the hourly RSI is above 50 as well.
  • On the other hand rejection at 1.1398 followed by a break below 1.1370 would expose rising trend line support at 1.1357.
  • An hourly closing below 1.1357 would add credence to falling tops formation and could yield quick fire drop to 1.13 levels.

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