EUR/USD Technical Analysis: Mission accomplished EUR/USD at 1.1572 - Bull party not over yet - 1.1628 is next

EUR/USD bear trend is on hold as bulls are in control for the fifth day in a row. EUR/USD reached 1.1572 resistance level, but more upside can be on the cards.
EUR/USD is displaying unusual strength for a pullback as the market is trading up with extreme urgency above the bull channel (blue). The next key target is 1.1628 followed by 1.1667.
A sustained bear breakout below 1.1400 would invalidate the bullish bias.

Flavio Tosti Independent Analyst

EUR/USD 15-minute chart

Spot rate: 1.1577
Relative change: 0.84%
High: 1.1583
Low: 1.1480

Main trend: Bearish
Short-term trend: Bullish above 1.1400

Resistance 1: 1.1572 July 19 low
Resistance 2: 1.1628 August 8 high
Resistance 3: 1.1667 August 2 high

Support 1: 1.1542 current daily high
Support 2: 1.1506 June 21 low
Support 3: 1.1483 intraday swing high (August 10)
Support 4: 1.1445 last week high
Support 5: 1.1430 August 14 high
Support 6: 1.1400 figure

Author

Flavio Tosti

Independent Analyst

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