FX.co ★ Ichimoku cloud indicator analysis of EUR/USD for June 27, 2018.

EUR/USD got rejected yesterday at the 61.8% Fibonacci retracement and pushed below the short-term support at 1.1690. The price pulled back towards the lower cloud boundary and 38% Fibonacci retracement at 1.1640 and found support.

The EUR/USD pair could be making of a higher low before continuing higher. Support at 1.1640 was held, and from the current levels we can see a push higher. The key indicator for this scenario will be the RSI in our 4-hour chart. Bulls do not want to see the price of the RSI breaking the blue trend line support. If the price breaks the blue TL, we should expect EUR/USD to move lower towards 1.1590.