EURUSD broke above 1.4750 resistance and reached as high as 1.4823. Further rise above 1.4966 previous high is expected next week. Near term support is at 1.4550, as long as this support holds, we’d expect up trend to continue. Key support is at 1.4309, only fall below this level will signal the resumption of the down trend.
For long term analysis, the pair is in consolidation of the long term up trend. Rise above 1.4966 previous high to reach the next long term cycle top on weekly chart is still in favor.
