EUR/USD European session Update- Watch out for 1.06700

EUR/USD has recovered till 1.06697 at the time of writing in European session and slightly retreated from that level. It is currently trading at 1.06500.

Major intraday resistance is around 1.06700 (34 day 4H EMA) and any break above confirms very minor bullishness , a jump till 1.0720 (trend line joining 1.0829 and 1.07628) is possible .

Any break above trend line 1.0720 only confirms very short term bullishness. On the downside watch out 1.0580 for further weakness.