EUR/USD At Support

The EUR/USD is trading at support at current level of 1.1170. The pair failed to reach resistance at 1.1410 and turned south at 1.1341. Since 1.1341, the EUR/USD has been declining until today when bulls decided it was time to get back in action.

Although it is too early to say that a reversal is happening, if this level hold then we might see price reach 1.1450. Before that, we have first resistance level at 1.1230. If current level is broken then bears might trigger further decline to next support level of 1.1040 (200SMA) and then 1.0800-1.0780.

Chart: EUR/USD D1