Technical analysis on EUR/USD for June 13, 2018

The EUR/USD pair is pulling back as expected by our latest analysis. Price is testing 1.1740-1.17 area which is important support. I believe that price will turn higher from this area after the FOMC. At 1.17 I’m bullish about EURUSD, looking for 1.20.

Red line — RSI resistance

Yellow rectangle — support area

Magenta line — expectations

The EUR/USD pair could not break above 1.1820 resistance yesterday. Price got rejected and pulled back towards 1.17 as expected. The RSI is below the resistance trend line. A break above the red resistance trend line will be a bullish confirmation of my bullish view. I expect EUR/USD to turn higher from the 1.17 level.

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