EURUSD chops in narrow trading range for the day – ForexLive

Low from last week holds support but topside trend line needs to be broken (at a minimum)

The EURUSD has been chopping in up and down Monday trading. The low for the day did dip below the low from last week at 1.17611 (the low ticked to 1.17601), but found buyers.  

Low from last week holds support but topside trend line needs to be broken (at a minimum)

On the topside, there is a downward sloping trend line cutting across currently at 1.1790 (and moving lower). IF the buyers are to take control, getting and staying above that trend line will be the minimum IF the buyers are to take more control.  

Taking a broader look at the daily chart, the pair is staying above the swing low going back to November 23 at 1.17449. The pair is skimming a lower downward sloping trend line (currently at 1.1750. Break below each, is more bearish. 

EURUSD on the daily chart
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