EUR/USD’s Drop Extension
Pair’s trading condition is neutral. Minor support of 1.2268 is aligned. Breach of 1.2268 will suggest extension of the drop from 1.2555. Following pivot points include: (S1) 1.2273; (P) 1.2303 (R1) 1.2334.
Trading should turn up on the downside to 1.2154 support and lower. Over 1.2445, trading will turn up on the upside towards 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.