Attached is the 1H chart for EURUSD. Yesterday, again, this pair broke through previous highs and made new highs. Though this pair did make new highs, the momentum seems to have slowed down for this pair and the news highs seem to be taking longer and also seem to be requiring a lot more time and also a lot more effort than what was required previously.
Now, this pair rests at a decent resistance at 1.4282 which is also close to its previous highs and hence should provide good support.
On the downside, there should be good and strong support at 1.4250. A break of this could lead price going down to 1.4170. For today, i do not expect price to go down below this.
On the upper side, this pair could face a large resistance at yesterdays high of 1.4330 and if this is broken, then we could see price moving to 1.44.
Today should be an interesting as for the first time after quite a few days, EU seems to be caught between support as well as resistance and it would indeed take a great effort for this pair to break either of them (1.4170 and 1.4330). Lets see what happens today.
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