EURUSD Daily Analysis – May 22, 2017

After consolidation, EURUSD continued its bullish movement from 1.0839 and the rise extended to as high as 1.1211. Near term support is at the ascending trend line on 4-hour chart. As long as the pair is above the trend line, the bullish movement could be expected to continue, and next target would be at 1.1300 area. The key support is now at 1.1075, only a breakdown below this level could indicate that the bullish movement is complete, this could bring price back into 1.1000 zone.

EURUSD chart