Rejection Level in EUR/USD
The pair attempted to breach 1.2285 support but didn’t manage to. Trading condition is neutral. 1.2285 level is aligned. Breach will confirm conclusion of the intact increase from 1.2154 at 1.2475. In that case, trading will turn up on the downside to 1.2154 and lower. Following pivot points include: (S1) 1.2273; (P) 1.2309 (R1) 1.2337.
The fall from 1.2555 should expand, indicating rejection from the key fibonacci of 1.2516. Over 1.2344, trading will turn up on the upside to 1.2475 and maybe even to the maximum of 1.2555.
Key fibonacci level at 38.2% retracement of 1.6039 to 1.0339 at 1.2516 stays resilient. 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.