EUR/USD At Resistance

EUR/USD is trading at resistance since yesterday when the pair reached a high of 1.1257 which just pierced through the resistance and then pulled back to lower levels. The pair is currently trading at 1.1212 and it appears that it's not yet ready to go lower than  1.1194 which was the lowest since yesterday.

Bulls need to get past the resistance at 1.1250 and if that happens next bull target is seen at 1.1310 which might be a stronger resistance zone.

On the other hand, bears need to keep price in the descending channel. If they can get a close below 1.12 this would be a strong early indicator that next week the pair might keep pushing lower.

No major news are scheduled for today.

Chart: EUR/USD H4