EURUSD Forecast

The EURUSD attempted to push lower yesterday, bottomed at 1.3179 but further downside pressure was rejected, closed higher at 1.3248 and hit 1.3322 earlier today in Asian session. On h4 chart below we can see price still struggling around the upper line of the bearish channel. The bias is neutral in nearest term. Overall I think price still moves in range market between 1.3200 – 1.3400/38. Clear break above 1.3438 could be an early signal of a bullish reversal scenario. On the downside, immediate support at 1.3240. Clear break below that area could trigger further bearish pressure re-testing 1.3180/50 and keep the bearish scenario intact.

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