Description
⋅ 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.