Forex
EUR/USD Holds Bullish Structure as ECB Signals September Rate Hike
The EUR/USD pair has held its bullish structure despite rejection near 1.1700.
Prices pulled back from last week's high past 1.1700 and this month's peak at 1.1710, with the failure point being precise: bulls could not find acceptance above the late May highs at 1.1685.
The three-month high near 1.1697 printed on August 21 has not been threatened since.
The correction underneath that rejection is mild and orderly, with spot holding above previous resistance at 1.1620, the June 16 and August 17 highs, which keeps the near-term bullish structure intact.