EURUSD bulls tried to pull price above 1.1170-1.1188 but no luck until now. The rejection at the resistance levels will most probably bring price back towards the lower channel boundary. Bulls need to break above 1.1180-1.1190.
Red rectangle - resistance
Blue rectangle - support
Green lines -bullish channel
EURUSD is still bouncing higher off the January 10th low. If this level is broken I would expect price to move lower towards the lower green channel boundary. Short-term trend is mixed as price has no clear direction. Staying below the red rectangle area is a bearish sign that will put the blue rectangle into bears crosshair.
