EUR/USD outlook - testing rising channel support

FX:EURUSD   Euro / U.S. Dollar
Resistance - 1.1465, 1.15, 1.1534

Support - 1.1383, 1.1342, 1.13

  • An hourly closing below rising channel support at 1.1383 levels would expose support at 1.1342-1.1330 levels. Hourly RSI is just short of oversold territory, hence there is a scope for rebound.
  • Rebound from 1.1383 if followed by a day end closing above 1.1464 would shift risk in favor of a re-test of 1.1534 levels.

Note - the previous rebound from rising channel support wasn't a big one, which indicates increased risk of a bearish break
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