EUR/USD's Downside

Technical Reports

Pair’s trading is slightly on the downside to the minimum of 1.1507. Breach will extend the intact drop from 1.2555 through 50% retracement of 1.0339 to 1.2555 at 1.1447 towards 61.8% retracement at 1.1186. Following pivot points include: (S1) 1.1505; (P) 1.1590 (R1) 1.1638.

Over 1.1720, further recovery will be seen. 1.1851 resistance should bound upside and cause a decline restoration.

There has been a rejection from 38.2% retracement of 1.6039 to 1.0339 at 1.2516. A medium term top has been created at 1.2555. The fall is expected to extend for 61.8% retracement of 1.0339 to 1.2555 at 1.1186 and lower. While 1.1995 resistance is present, the drop from 1.2555 will be progressing.