EUR/USD bulls step in at critical support

EUR/USD edges higher after weekly loss

Having ranged over the past couple of months (A) EUR/USD prices huddled yesterday at twin support (1) after this week’s losses, with some gains during this early mornings session. In order to recapture last weeks high, which was established last Friday at 1.18329, prices first need to overcome short term descending trend line resistance from the September highs.

A break below support at (1) would point to 1.16384 as a first target to watch for, followed by 1.16147