EUR/USD bounced today above short-term resistance at 1.1380 and reached the next important resistance at 1.1420. Trend remains bearish as long as price is below 1.1620.
Red dots -maximum strength resistance
Black dots - medium strength resistance
Light blue dots - medium strength support
If EUR/USD bulls manage to break above 1.1420-1.1430, then we should expect a bigger bounce towards 1.1570-1.1630. Support is at 1.1340. If broken we should expect price to move towards 1.1250-1.12.
The material has been provided by InstaForex Company -
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