Looking at EUR/USD Chart, we can see the fall to 1.129 on the 15th of January, the solid recovery, and run up well into the 1.137 range where it consolidated for a few days but being unable to extend the run and push past the 1.139 resistance, it fell back towards the 1.13 range. Earlier today it managed to bounce back up from the 1.131 level, which now can be deemed as support, back to the previous trading range of 1.137 with an impressive 0.50% spike. It was last found trading around the 1.137 range clearing the 1.136 level having the closest overhead resistance at 1.139 and close support at the 1.131 level.
Today we could expect an attempt to climb towards the 1.139 resistance level as positive momentum may be at play.
If however, it does not manage to hold above the 1.137 range then a move towards the 1.131 support level can be expected.
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