EUR/USD Technical Analysis: Euro bulls strike back and challenge the 1.1600 level

EUR/USD snapped back up from the 1.1508, low of 2018, in the early American session as bulls are trying to regain the 1.1600 figure.
EUR/USD has been trading sideways to down in the last four days following the strong sell-off led by the ECB (European Central Bank) last week.
Today marks the strongest bull move since the ECB but EUR/USD is capped by the 1.1600 level. Bears' objective is to retest the 1.1508 low.

Flavio Tosti Independent Analyst

EUR/USD 15-minute chart

Spot rate: 1.1588
Relative change: 0.15%
High: 1.1612
Low: 1.1508

Trend: Neutral

Resistance 1: 1.1600 figure
Resistance 2: 1.1645 June 19 high
Resistance 3: 1.1730, 23.6% Fibonacci retracement from mid-April-May bear move

Support 1: 1.1550 figure
Support 2: 1.1508, current 2018 low
Support 3: 1.1400 figure

Author

Flavio Tosti

Independent Analyst

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