Bulls made another try today at the 1.1230 resistance but price got rejected again. EURUSD is now challenging 1.1170 support. Bulls need to act now otherwise we should expect a move towards 1.11 and lower. Trend remains bearish as long as price is below 1.1260.
Black line - trend line support
Blue rectangle - resistance
Red line - upper channel boundary resistance
EURUSD continues to make lower lows and lower highs. EURUSD is challenging important short-term support and could very well break it and move towards 1.11 and lower. Resistance is at 1,1230 and next at 1.1260. Price continues to trade inside the medium-term trend bearish channel. Trend remains bearish.
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