The EURUSD continued increasing yesterday almost 90 pips, but the pair was rejected strongly from the key resistance mentioned yesterday at 1.2955 and closed below this level showing some weakness in short term...
At the moment of writing EURUSD is trading at the middle range of R1 at 1.2965 and S1 at 1.2825
Stability above 1.2900 might test 1.2965, and stability below 1.2900 would keep pressure toward 1.2825 !!
Keep in mind ,as long as 1.2965 holds,intraday bias remains neural,above 1.2965 will flip bias back to the upside for R2 at 1.3105 and R3 at 1.3240...
A clear break below 1.2825 would extend the consolidation toward S2 at 1.2690, losing this level would mean that the bullish momentum in short term is lost, that would be a real threat to the bullish scenario...
Resistance 1.2965 1.3105 1.3240
Support 1.2825 1.2690 1.2550
Intermediate Trend Direction : Upward
Major Trend Direction : Downward