EUR/USD Technical Analysis: Bears nightmare continues - EUR/USD bulls break above 1.1650 level

• EUR/USD main bear trend is at risk as the bulls are breaking above key resistance levels, such as the 1.1628 swing high and the 4-month old April 17 bear trendline.
• EUR/USD bullish momentum remains intact as bulls keep the market well above the 1.1628 level and the main simple moving averages. EUR/USD broke above the Asia high and the next target is very close at 1.1667 (August 2 high) followed by 1.1750 supply level. 
• A sustained bear breakout below 1.1628 would invalidate the bullish bias.    

EUR/USD 15-minute chart

Spot rate:             1.1661
Relative change:   0.36%  
High:                    1.1665
Low:                     1.1594

Main trend:           Bearish 

Short-term trend: Bullish above 1.1628

Resistance 1:  1.1667 August 2 high
Resistance 2:  1.1750 supply level
Resistance 3:  1.1800 figure

Support 1:  1.1654 August 27 high, Asia high
Support 2:   1.1628 August 8 high key level
Support 3:   1.1600 figure
Support 4:   1.1572 July 19 low
Support 5:   1.1542 supply/demand level
Support 6:   1.1500 figure
Support 7:   1.1483 intraday swing high (August 10)
Support 8:   1.1445 last week high
Support 9:   1.1430 August 14 high