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EUR/USD begins to show tentative signs of strength
EUR/USD is gaining ground this morning, following a failed attempt to break to a new low yesterday evening. This failure to create a new low could be important, with the pair closing above trendline resistance for the first time since its inception on Monday.
The key to any recovery is the ability to post a closed hourly candle above $1.1410. Should that occur, resistance levels of $1.1465, $1.1481 and $1.1529 would come into view. However, the inability to break $1.1410 would point towards another leg lower towards the $1.1357 and $1.1339 support levels.