EUR/USD Intraday Technical analysis
The spot rate is currently testing the intermediate resistance of its medium term bullish channel in 1.3280 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its channel to 1.3340.
RSI don’t give clear signals but approaching to the overbuy zone suggesting a decline. Bollinger bands are stabilized showing a more regular volatility.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3280 with a 1st objective of 1.3340, then 1.3360. A break in 1.3260 would invalidate this scenario.
The material has been provided by Instaforex Company – instaforex.com
Forex analysis review
