Тechnical analysis for the EURUSD on 25.11.2015

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The EURUSD has consolidated below 1.0675 resistance

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Upside correction of the EUR/USD looks shaky after the false breakout of 1.0615 support. The price approached 1.0675 resistance at low volumes and consolidated.

The longer this consolidation below 1.0675 resistance lasts, the bigger are the chances of the rebound down. The closest rebound target is situated at the last week’s low of 1.0615.

Medium-term downtrend will continue if bears manage to break and hold below the 1.0615 support. Potential decline target in this case will be found at the round level of 1.0500.

Alternative scenario:  

Correction up will continue if price breaks the inclined resistance at 1.0715. The main correction target is situated at 1.0765 resistance.

 

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