EUR/USD: it seems that the bulls have again been unable to sustain traction [Video]
|EUR/USD
We note that the rebound on EUR/USD is once more back into the pivot band between $1.1075/$1.1100. This is effectively a mid-range neutral zone between the increasingly key floor around $1.0980/$1.1000 and the resistance at $1.1180. Given yesterday’s rather neutral candle and an early consolidation today, it seems that the bulls have again been unable to sustain traction. We are again neutral. The latest swing higher leaves rather neutrally configured momentum indicators with a marginal positive bias. However, the hourly chart shows initial support at $1.1065 and if this is breached then there would begin to see a drift lower again. Closing above $1.1100 would be a near term breakout and open $1.1180.
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