Yesterday EURUSD was fluctuating on hourly timeframe and bears failed to hit lower rates. Bulls could not take the control of the chart as well. No certain direction can be expected at this point.
EURUSD has not been moving much in the recent month so COT report can influence long term investments. The US economic reports on Tuesday had no impact on the pair and the volatility on the pair was very low. The data on Durable Goods Orders came higher than forecasted. EURUSD is sketching a horizontal move within the potential support and resistance lines.
While moving flat, the ascendant channel is pushing the price towards the upper Bollinger band at 1.18650 but bulls will not have the strength to violate 1.19120.
While the indicators are showing bearish momentum, the support line is too strong to be broken. The potential decline can hit 1.16800.
