EUR/USD’s Minor Resistance Level

Technical Reports

Larger fall is likely if the whole 1.1832 minor resistance holds. Decline from 1.2091 should break 1.1661 support. The drop from 1.2091 is a correction for the entire surge from 1.0569. Following pivot points include: (S1) 1.1702; (P) 1.1738 (R1) 1.1780.

Bigger decrease must align 38.2% retracement of 1.0569 to 1.2091 at 1.1510. Support from there will lead to recoil. Breach of 1.1832 minor support will point out conclusion of corrective decline. Then, trading will turn up on the upside.

The lift from the medium term bottom of 1.0339 keeps extending. It will resume after ending of the retreat from 1.2091. It will then align 38.2% retracement of 1.6039 to 1.0339 at 1.2516. Trend reversal is so far unlikely. The recoil from 1.0399 has a corrective manner. The long term decline from 1.6039 might be progressing. Sustained resistance from 1.2516 should limit the upside.