EUR/USD's Key Short Term Support

Technical Reports

Pair has hit the 1.2214 minimum. However, it remains over the key short term support of 1.2205. Trading is still neutral. Breach of this key short term support will indicate rejection from the key fibonacci level of 1.2516 and a trend reversal. Following pivot points include: (S1) 1.2187; (P) 1.2266 (R1) 1.2312.

Another fall should head towards 1.1553 support. Over 1.2354 minor resistance, EUR/USD will align repeat test of 1.2555 maximum. Breach of 1.2555 will suggest uptrend restoration and then will try to reach 100% projection of 1.0569 to 1.2091 from 1.1553 at 1.3075.

Lift from the medium term bottom of 1.0339 has a corrective nature. Firm breach of 1.2516 will suggest bullishness and align 38.2% retracement of 1.6039 to 1.0339 at 1.3862. Rejection from 1.2516 will boost long term bearish prognosis and suggest repeat test of 1.0039 level. Strong breach of 1.2516 will suggest bullishness and align 61.8% retracement of 1.6039 to 1.0339 at 1.3862.