EUR/USD’s Key Resistance

Technical Reports

The pair has significantly fell from 1.2445. Still, it’s holding over the minor support of 1.2268. Trading is still neutral. Breach of 1.2268 will indicate extension of the drop from 1.2555. Following pivot points include: (S1) 1.2257; (P) 1.2351 (R1) 1.2406.

Trading should turn up on the downside to 1.2154 support and lower. Over 1.24455, trading will turn up on the upside to repeat test of 1.2555 key resistance.

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.