The Euro (EUR) inched lower against the US Dollar (USD) on Friday, decreasing the price of EURUSD to less than 1.1700 following some key economic events. The technical bias has however turned bullish because of a higher high in the recent upside rally. EUR/USD Technical Analysis

As of this writing, the pair is being traded near 1.1698. On the downside, a support can be noted around 1.1652 (a key horizontal support) ahead of 1.1639 (the low of the last major downside move) and then 1.1600 (the confluence of horizontal support as well as psychological number) as demonstrated in the given below chart. Read more: