EURUSD Bullish Short Term Bias

After breaking above the steep resistance trendline on Friday, EURUSD moved sharply up on Sunday open only to fall back down in the European session; from a technical point of view the moves managed to reinforce the 1.4400 resistance and to establish the former resistance line into support. While the pair is trading above 1.4150/1.4170 the bias is to the upside especially with the news we have later on from the US(CPI and FOMC rate decission).

After breaking above the steep resistance trendline on Friday, EURUSD moved sharply up on Sunday open only to fall back down in the European session; from a technical point of view the moves managed to reinforce the 1.4400 resistance and to establish the former resistance line into support. While the pair is trading above 1.4150/1.4170 the bias is to the upside especially with the news we have later on from the US(CPI and FOMC rate decission).

 

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