EUR/USD Technical Analysis: Rejected again at 1.1800 but bias still points to the upside
|- The euro was again rejected from above 1.1800 and pulled back, erasing most of the day’s gains. The short-term trend still points to the upside but as long as it continues to fail around 1.1800, it is likely to remain limited.
- A break below 1.1690/00 (short-term uptrend line) could remove the current bullish tone signaling a potential consolidation between 1.1650 (20-day moving average) and 1.1700.
- Technical indicators still favor the bullish bias and a consolidation above 1.1800, targets 1.1850.
Daily high: 1.1816
Daily low: 1.1723
Support Levels
S1: 1.1750
S2: 1.1720
S3: 1.1675
Resistance Levels
R1: 1.1690
R2: 1.1725
R3: 1.1750
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