Daily Technical Report

EUR/USD has successfully tested the support at 1.1262 and has broken the hourly resistance at 1.1359, improving the short-term technical structure. A move towards the resistance at 1.1534 is likely. Another key resistance stands at 1.1679. An hourly support now lies at 1.1355 (intraday high).

In the longer term, the symmetrical triangle favours further weakness towards parity. As a result, any strength is likely to be temporary in nature. Key resistances stand at 1.1679 (21/01/2015 high) and 1.1871 (12/01/2015 high). Key supports can be found at 1.1000 (psychological support) and 1.0765 (03/09/2003 low).

Read the full report: Technical Research