EUR/USD On The Downside

Technical Reports

Pair’s trading remains on the downside to 1.2154 support. Strong breach in that area will indicate rejection from the key fibonacci resistance of 1.2516. Following pivot points include: (S1) 1.2207; (P) 1.2249 (R1) 1.2279.

Intact fall from 1.2555 should align 38.2% retracement of 1.0339 to 1.2555 at 1.1708. Over 1.2314 minor resistance, trading will turn up in the neutral position.

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.