EURUSD Forecast

The EURUSD had a bearish momentum yesterday after fell below the minor bullish channel and 1.3669 support area (now resistance) as you can see on my h4 chart below. After made a false breakout above 1.3800, we have lower high indicates limited bullish pressure and potential further bearish pressure re-testing 1.3500 key support area in nearest term. However note that unless price makes a clear break below 1.3500, overall we are still in consolidation phase, with range area between 1.3500 – 1.3800. Immediate resistance at 1.3620. Break above that area could lead us to neutral zone in nearest term testing 1.3669 – 1.3687 resistance area.

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