Euro attacks a descending channel’s ceiling – Technical Analysis – 19-11-2015

The EURUSD pair rose recently after leaning on 1.0635 support level, which allowed it to gather some positive momentum that assisted it to rise, to reach 1.0705 key resistance, testing the descending channel’s resistance that carries the short term trading, besides touching the moving average 50.

Therefore, we will stay aside now to monitor the price behavior according to 1.0705 level, as breaching it will open the way for rise, targeting 1.0810 resistance directly.