The pair EUR/USD grows on the rise again after finding support around the 1.1700.
In fact, after having dampened its first bounce on the resistance of 1.1825, the reversal bearish EUR/USD has made new lows at 1.1695 and has found a support in this area.
The rebound that followed today slows down to the point in the resistance of 1.1775, but it seems to have the potential to continue in the very short term in the direction of 1.1825.
A break above 1.1775 would strengthen this perspective, with an intermediate resistance to 1.1800.
Above 1.1825, the downward pressures would be impaired, with a higher risk of a bullish recovery towards the 1.1860, 1.1895/1.1900 and 1.1920 in a first time.
While the short-term risks remain tilted to the downside, it will now have to break below 1.1680 to revive the downside correction in the direction of 1.1620/1.1580 in the short term.
The range of short-term monitoring is, therefore, to 1.1680/1.1825, while the bias remains tilted to the downside below the resistance.
The economic calendar tomorrow will be pretty busy with the PMI services in the euro zone, retail sales in the euro zone, the ADP report, the PMI Markit services in the US and in the non-manufacturing ISM.
The ADP report and the ISM non-manufacturing will be the two publications which he would need to make the most attention, then the attention turns gradually towards the NFP on Friday.
The pair EUR/USD is currently trading at 1.1762 on the Forex.
Chart EUR/USD H1
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This chart has been realized with the trading platform TradingStation 2 provided by FXCM France.