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25.05.202214:03 Forex Analysis & Reviews: EURUSD pulls back into support territory.

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EURUSD is trading around 1.0660 and has entered a support zone where the chances of an upward reversal are high. Price continues making higher highs and higher lows. Trend remains bullish. Support is at 1.06.

Blue lines- medium-term bearish channel

Green line- support trend line

Yellow rectangle -support/reversal area

EURUSD has many chances of reversal to the upside once it reaches the yellow rectangle area or the green upward sloping support trend line. Failure to bounce from the 1.0630-1.0660 support area, will be a sign of weakness and a break below the support trend line should follow. If support holds, price should soon reverse to the upside towards 1.0875.

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