Currency analyst

EUR/USD: bulls try to secure their advance

On the daily EUR/USD chart the bulls returned the prices into 1.1-1.1175 channel. The pair's currently trying to take out resistance at 1.1072. The break of this level will inrease the risks of a rally to the upper border of consolidation range, the recoil to the downside will return the initiative to the bears.

EUR/USD successfully tested the upper border of the descending channel and fixed above the diagonal resistance. It means that the attack of the bulls has succeded. In line with the "Shark" pattern, the euro may rise to $1.1125. However, first the euro needs to rise above the current levels. The nearest support levels are at 1.1052 and 1.1035.   

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