Technical analysis of EUR/USD for September 13, 2018

EUR/USD is trying to break above major resistance area of 1.1630-1.1660. The price briefly broke above the resistance area but sellers came right back in to push prices towards 1.16. I prefer to be neutral or bearish as the price is right below the major resistance area.

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Red line - resistance trend line

Green line - support trend line

Orange dots - medium strength resistance

Red dots - maximum strength resistance

Blue dots - medium strength support

EUR/USD bulls try to break above the resistance at 1.1630. So far without success. A rejection at current levels could bring price towards the Green support at 1.1540. Breaking below this support will open the way for a push towards 1.14 and lower. On the other hand, if prices manage to break and hold above 1.1660 we will certainly see a test of 1.1730-1.1750 area.

The material has been provided by InstaForex Company - www.instaforex.com