EURUSD Forecast

The EURUSD had another indecisive movement yesterday. There are no changes in my technical outlook. Price is still in a bearish phase after broke below the bullish channel but found a good support around 1.2435/00 which need to b broken to continue the bearish scenario. Immediate resistance remains around 1.2580. A clear break above that area will interrupt the bearish phase testing 1.2630/50 key resistance area. A clear break back above 1.2630/50 will stop the current bearish intraday outlook and turn my intraday bias to a bullish view. My medium outlook remains unclear and if 1.2435/00 support area hold we might see a potential wide range between 1.2435/00 – 1.2750.

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