Retreat In EUR/USD

Technical Reports

Trading is neutral, as the pair retreated after hitting 1.1499. Price moves from 1.1300 are viewed as forming a consolidation. Pivot points are at: (S1) 1.1380; (P) 1.1441; (R1) 1.1486.

Hitting of 1.1499 will aline resistance 1.1621 and possibly above. Upside should be bounded by 1.1814. Trading below minor support 1.1353 will indicate completion of the rise from 1.1302.

Price moves from 1.1300 are corrective and break of that level will resume the downtrend from 1.2555 to 61.8% retracement of 1.0339 (2017 low) to 1.2555 at 1.1186 next. Sustained break there will pave the way to retest 1.0339. If the consolidation from 1.1300 extends, upside should be limited by 1.1814 and 38.2% retracement of 1.2555 to 1.1300 at 1.1779.