EUR/USD rallies from key support zone
EUR/USD has once again failed to break below the crucial $1.1510-$1.1554 support zone. A break below that level would point towards a continuation of the wider bearish trend that has been in play since February.
The question over whether we will see a wider break higher would come with a break above the $1.1721 peak. A rally above there would provide a double bottom, while a break above the $1.1852 level would have wider bullish implications. Until then, there is a good chance we will continue to set lower highs, with a break below $1.1510 providing the bearish signal for the longer term.