EUR/USD Mid-Day Outlook

Break of 1.1832 resistance suggests that the corrective pull back from 1.2091 has completed at 1.1669 already, ahead of 1.1661 support, on bullish convergence condition in hour MACD. Intraday bias is turned back to the upside for further rise for retesting 1.2091 high. We’ll be cautious on strong resistance from there to bring another fall to extend the consolidation. On the downside, below 1.1755 will turn bias back to the downside and could extend the correction from 1.2091 through 1.1669.

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Posted in Forex Market.

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