EURUSD Watching divergence
The euro currency continues to weaken against the US dollar, with the pair trading close to the 1.1600 technical support barrier. Lower time frame analysis is showing that bullish MACD price divergence has formed, and currently extends towards the 1.1800 level. Bulls need to break above the 1.1660 to 1.1680 resistance area to encourage a recovery back towards the 1.1800 level.
The EURUSD pair is only bearish while trading below the 1.1680 level, key support is found at the 1.1600 and 1.1570 levels.
The EURUSD pair is only bullish while trading above the 1.1680 level, key resistance is found at the 1.1770 and 1.1800 levels.