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Forex technical analysis: EURUSD rebounds off support after modest correction

Discussion in 'Technical Analysis' started by ForexLive, Aug 1, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Above extreme high The EURUSD moved above what has been the extreme high area I have earmarked since the end of June. Looking at the hourly chart above, the 1.1153-59 level set swing highs on June 30 and July 4th. On July 1 and again on July 5th there were failed moves above that area. Each were were quickly rejected. That happened again on July 14 with another failed break (was UK rate decision day).

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