Daily Technical Outlook for EURUSD (Feb 06)

The EURUSD continues to trade within the main rising channel that started from early January. Maintaining the uptrend(Series of higher highs and higher lows). Holding above the rising channel support favors the bullish scenario over the short term. Targeting the main resistance area around 1.0850-1.0875. If we break below 1.0700, we expect for the selloff to extend towards 1.0620.

Short term scenarios:
Bullish towards 1.0800, targeting 1.0850.
Bearish below 1.0700, targeting 1.0615.
Short term key support and resistance
1.0730/10 1.0660 1.0610
1.0770 1.0810 1.0850/70