EURUSD has been trading within a well defined uptrend over the last several months, since breaking out in early 2017. 1.2360 provided support to the pair in early February and now switches to resistance.
The pair’s top level was $1.2555, and recent low was 1.2155. Immediate resistance is seen around 1.2350. A clear break above that area could lead price to neutral zone in nearest term testing 1.2400 area. A close significantly below 1.2200 could point toward a bearish correction.
The next strong support might lie at 1.2060. A break and daily closing below the 1.2000 support area shall trigger renewed selling interest, validating a move towards the 1.1554 level which is the low of the last major downside move.
