EURUSD has broken above the short-term resistance at 1.2240 and has provided a new higher high at 1.2265. Price is trading above the broken resistance of 1.2240 which is now support. The RSI has provided another bearish divergence as it did not make a higher high as the EURUSD did.
Blue rectangle - support
Red rectangle - resistance (broken)
Blue lines- bullish channel
EURUSD is still inside the bullish channel since 1.17. Trend remains bullish as price continues making higher highs and higher lows. Support remains key at 1.2160-1.2170 where we find the horizontal support and the lower channel boundary. The bearish RSI divergence signals have provided us with important warnings. Bulls need to be very cautious. At current levels I prefer to be neutral if not bearish.