EUR/USD- stuck at rising trend line resistance

FX:EURUSD   Euro / U.S. Dollar
Resistance - 1.1620-1.1625, 1.17-1.1714

Support - 1.1534, 1.1465

  • Euro's failure to take out rising trend line hurdle seen on the 4-hour chart coupled with overbought hourly and 4-hr RSI indicates the currency could re-test strong support at 1.1534. A violation there would expose 1.1464 levels.
  • On the higher side, resistance at 1.17-1.1714 could be put to test, although such a move would require a convincing break above 1.1625 levels on hourly chart (at least).
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