EURUSD rejected at key resistance at 1.0370. Will it have another go or correction time.
Dollar Index finding support at 106. Key strong support is at 104.50-105.00
USDJPY broke key support but buyers lifting the pair back. Can the hold it above?
After breaking above the upper trendline in the short-term rising channel, EURUSD has been rejected the strong resistance at 1.0370. Uptrend is still intact and RSI showing no divergence indicating higher levels. But a close above 1.0370 is needed. A correction down to test the upper trendline from the above and possibly also the support at 1.02.
If EURUSD slides back below 1.02 key support is at 1.01. A close below could reverse or put on hold the current short-term uptrend.
If EURUSD closes above 1.0370 it can be a bit of a struggle to move much higher than 1.0580. The daily SMA will provide some resistance and on the weekly the 0.382 retracement of the entire down trend since Q3 2021 is at around 1.0580
1.0778 seems to be Bull/Bear pivot on medium-term for EURUSD