EUR/USD outlook – eyeing 1.1260 as falling trend line breached

FX_IDC:EURUSD   Euro / U.S. Dollar
Resistance – 1.1226 (hourly 50-MA), 1.1270 ( trend line + hourly 200-MA), 1.13

Support – 1.1196, 1.1144 (Mar 24 low), 1.11

  • In the light of a bullish break in hourly RSI , the pair could be heading higher to 1.1270 (larger falling trend line + hourly 200-MA) given the smaller falling trend line has been breached on hourly closing basis.
  • On the other hand, a failure to stay above smaller falling trend line would open doors for a re-test of 1.1180 (yesterday’s low).
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