EURUSD Weekly Analysis – May 6, 2017

EURUSD continued its bullish movement from 1.0340 and the rise extended to as high as 1.1000. Near term support is at 1.0800, as long as this level holds, the bullish movement could be expected to continue and next target would be at 1.1400 area. Key support is located at the ascending trend line on daily chart, only a breakdown below the trend line support could signal completion of the uptrend.

EURUSD chart