EUR/USD Technicals – Support seen above1.275

Hourly Chart

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EUR/USD traded lower after price failed to break 1.278 Р1.28 resistance zone. Currently price trading above L3, supporting  price afloat together with the upward trendline that defines current rally/bullish retracement.

Break of L3 opens up L4 and L5 as potential downside targets.

Daily Chart

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Price pulled back into the previous support zone after the false breakout a few days ago. Currently we are still trading within the support/resistance range and could see strong momentum either way if breakout on either side occurs.

 

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