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EUR/USD H1
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After further acceleration to the downside this morning, the Euro regained a little ground against the Dollar, with a recent summit on EUR/USD at 1.1773 after a low of 1.1716 this morning.
It is essentially a movement of the rebound technique, no news to justify particularly a rebound in EUR/USD. Moreover, one can note that it is the Dollar that leads the dance, since the Dollar index has been declining for EUR/USD bounces back.
In addition, the decline of the Dollar can also be found on other currency pairs of the Forex, and in particular USD/JPY and GBP/USD.
As we had anticipated when the Euro accelerated its fall, the area of the 1.1720 tested this morning has played its role of support, and has led to a rebound of the pair EUR/USD.
However, the bias is bearish in the short term will remain as long as the pair remains below 1.18 a graphical point of view (knowing that another resistance is just above at 1.1820). We will also monitor the moving average 100 hours currently located at 1.18 also.
Let us note to finish that the hourly chart shows a downtrend channel that justifies him as the technical rebound posted since this morning, with a bounce of the lower bound to the terminal on the high of this channel.
The EUR/USD will therefore be to monitor closely over the next few hours, in view of potential sales opportunities.
