Currently, EURUSD is leading toward 1.1420. This level is the last local high. This movement may take some time because the price has been moving in bullish regression channel. Upper limit of that channel is located at 1.1360. On the road to 1.1420 there are resistances: 1.1320, 1.1370. If the correction occurs, the price should stay inside the channel. The nearest support area is located at 1.1220 – 1.1240 and next support at 1.1140.
In medium term EURUSD has been moving in side trend between 1.0480 – 1.1620 (since January 2015). However, for last 6 months that movement was even more flat and the price stayed between 1.0910 – 1.1610.
