EUR/USD Technical Analysis: Profit-takers and bottom-pickers see EUR/USD rebound at 1.1300 figure

EUR/USD bear trend is finding some short-term support at 1.1300 figure.
EUR/USD bear trend is likely to take a breather above 1.1300 strong psychological level as bears are taking some profits and counter-trend traders are entering the market.
Targets to the upside are located near 1.1347, 1.1365 and 1.1432 supply/demand level. Counter-trend trades are riskier since a bear breakout below 1.1300 would invalidate the short-term bullish bias.

Flavio Tosti Independent Analyst

EUR/USD 15-minute chart

Spot rate: 1.1328
Relative change: -0.14%
High: 1.1351
Low: 1.1300

Trend: Bearish

Resistance 1: 1.1347 intraday swing high (August 15)
Resistance 2: 1.1365 August 13 low
Resistance 3: 1.1432 supply/demand level

Support 1: 1.1300 figure
Support 2: 1.1250 May 24, 2017 high
Support 3: 1.1178 June 27, 2017 low

Author

Flavio Tosti

Independent Analyst

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