Fall of EUR/USD Continues

Technical Reports

Trading is on the downside, as the pair’s decline goes on and is pressing 161.8% projection of 1.2475 to 1.2214 from 1.2413 at 1.1991. Following pivot points include: (S1) 1.1953; (P) 1.2018 (R1) 1.2056.

Trading above minor resistance 1.2054 will point out a temporary bottoming. In that case, trading will become neutral for consolidation. Upside should be bounded below support turned resistance 1.2214. Overcoming of 1.1991 will aline 200% projection at 1.1891.

A medium term top should be formed at 1.2555. Deeper fall is possible to 38.2% retracement of 1.0339 to 1.2555 at 1.1708. Overcoming of support 1.2154 points out rejection by 38.2% retracement of 1.6039 to 1.0339 at 1.2516.