Technical analysis for EUR/USD for February 26, 2019

EUR/USD seems unable to break above 1.1370 for a move towards 1.1410 or higher. Support so far is being respected but a daily close below 1.1320 will be a bearish sign for the next few sessions at least.

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Red line - major trend line resistance

Green line - major trend line support

Black line - RSI support trend line

Blue line - support trend line

Blue rectangle - target area

EUR/USD continues to respect short-term support blue trend line. Support is now at 1.1345 and it is important for bulls not see a close below 1.1320. Resistance is found at 1.1370 and a 4 hour close above this level will open the way for a move higher closer to the red trend line resistance and our blue target area between 1.1410-1.1425. Also it is important for bulls to continue to see RSI hold above the black trend line support. Breaking below it will be a sign of weakness to come.

The material has been provided by InstaForex Company - www.instaforex.com

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