EURUSD: Short-Term Bullish, Tests Key Resistance!


As long as 1.1961 support holds on a 4-hour closing basis, the short-term outlook in EURUSD remains on the upside towards the 1.2025 levels, a halt is likely and a reversal may occur, however; a breakthrough the1.2025 will open the 1.2091 levels, further upside, resistance comes at the 1.2166 levels…

On the downside, below 1.1961 will open 1.1914 levels, further down, support comes at the 1.1837 levels…

Conclusion: The EURUSD continues to face upside threats above 1.1961 levels in the short term forecast with risk to 1.2025 levels, below 1.1914 will suggest that fall from 1.2091 is resuming and may bring a lower leg below 1.1837 levels…

DONT MISS: The U.S will report on Existing Home Sales today at 14:00 GMT. The U.S Federal Reserve will publish the minutes of its latest monetary policy meeting today at 18:00 GMT.

Note that a daily closing above 1.2059 level will restore the upside momentum and pave the way towards the1.2166 levels, otherwise; the pair will consolidate above 1.1837 or break lower!!!


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