EUR/USD Technical Analysis: Finds support near 1.1530. Recovery could re-test 1.1600

• The pair is showing some signs of life on Tuesday, rebounding from yesterday’s low around 1.1530 and now eyeing the upper 1.1500s.
• Spot dropped to 1.1530 at the beginning of t he week following the breakdown of the pennant pattern during last week, allowing for extra weakness to see the 1.1500 neighbourhood tested once again.
• There is no change to the offered stance as long as 1.17545/50 keeps capping the upside.

EUR/USD daily chart

Daily high: 1.1584

Daily low: 1.1546

Support Levels

S1: 1.1531

S2: 1.1509

S3: 1.1488

Resistance Levels

R1: 1.1574

R2: 1.1595

R3: 1.1617