Even if the EURUSD maintains its upscale near 1.1400 mark, resistance line of short-term “Rising-Wedge” bearish technical formation on H4 chart, near 1.1425-30 presently, could limit the pair’s immediate advance.
The formation, however, isn’t complete unless the pair decisively break below the lower ascending trend-line support, currently near 1.1370-65 region. A decisive break below 1.1365 support area now seems to drag the pair immediately towards 1.1250 intermediate support before making a dart towards its next important support near 1.1200 mark.
Meanwhile, a clear break of 1.1425 can quickly fuel the pair towards 1.1450-60 strong horizontal resistance, prior to targeting 1.1600 region.
The formation, however, isn’t complete unless the pair decisively break below the lower ascending trend-line support, currently near 1.1370-65 region. A decisive break below 1.1365 support area now seems to drag the pair immediately towards 1.1250 intermediate support before making a dart towards its next important support near 1.1200 mark.
Meanwhile, a clear break of 1.1425 can quickly fuel the pair towards 1.1450-60 strong horizontal resistance, prior to targeting 1.1600 region.