EURUSD is trading around parity against the Dollar after the sharp sell off yesterday. In Ichimoku cloud terms price remains in a short-term bullish trend as price remains above the Kumo (cloud) in the 4 hour chart. EURUSD tested the cloud support yesterday and today is bouncing off this support level. Resistance by the kijun-sen (yellow line indicator) is at 1.0065 and by the tenkan-sen (red line indicator) at 1.0072. Bulls need to break above this resistance area in order to hope for a bigger move higher. Bears need to break below the Kumo in order for trend to change to bearish. As long as price holds above 0.9945 bulls have hopes. Price has made a higher low so far. Bulls need to defend current lows.
