EURUSD Daily Analysis – October 19, 2017

EURUSD rebounded from 1.1730 after approaching 1.1669 support, indicating that the short term downtrend from 1.1879 is complete. Further rise to test 1.1879 resistance could be expected in the coming days, a breakout of this level could trigger further bullish movement towards next resistance level at 1.2029. Near term support is at 1.1730, only a breakdown below this level could bring price back to test the key support at 1.1662 (Aug 17 low).

EURUSD 4-hour chart