EUR/USD is moving towards a resistance line. Because we have seen it retrace from this level in the past, we could see either a break through this line, or a rebound back to current levels. It has touched this line numerous times in the last 5 days and may test it again within the next 17 hours.
Supports and resistances are primary concepts of technical analysis. EUR/USD is heading for an important price of 1.0799 – read about what this could mean for the future.
