Currency analyst

EUR/USD needs a fresh driver

One may see on the daily EUR/USD chart that the bulls make great effort to push the pair back inside the 1.1-1.1175 channel. The nearest resistance is at 1.1072, while support is at July low (1.095).

On H1 EUR/USD is near the upper border of the bullish channel, that increases the risks of the diagonal's resistance break to the upside with the following test of 1.1035 and 1.1052. Support is near 1.0958. Traders may use strategies connected with the break of 1.0958-1.1035 consolidation range. At the same time, remain careful as there's a wider trade channel (1.089-1.1072).



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