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EUR/USD falling back within 2017 uptrend
EUR/USD has been turning lower ever since the sharp rally on the final day of January, with the pair retracing the ascent from $1.0620. Despite this short-term weakness, there is still a good chance we will see the pair turn higher in accordance with the trend seen over the past month.
A break back below $1.0620 would negate that trend, and until then there is a possibility we will soon turn higher once more. There is still a chance the current ascendancy represents a retracement of the fall from $1.0874. However, with price running, so far, above the 76.4% retracement, this is becoming less likely. A break above $1.0874 would provide a bullish medium-term view.
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