Although EURUSD continues to trade inside a bearish channel, price has more upside potential as long as bears are not strong enough to break below 1.1535. EURUSD is showing signs of a reversal. Price has the potential to bounce towards the upper channel boundary and resistance at 1.1685.
Red line - support
EURUSD is bouncing higher. Price recently made a new low but the RSI did not follow. The RSI provided a bullish divergence. This is only a warning, however it is an important sign that the bearish trend is weakening. Failure to hold above 1.1535, we will get a new bearish signal. Until then, chances favor EURUSD bouncing towards 1.17.
