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  • EUR/USD flirts with double top neckline support at 1.2258. 
  • A breakdown would expose support at 1.2239-1.22.

EUR/USD has carved out a double top bearish reversal pattern on the 15-minute chart. 

Acceptance under the double top neckline support of 1.2258 would confirm breakdown and open the doors for 1.2239 (higher low on the 15-minute chart). That looks likely as the 15-minute chart Relative Strength Index (RSI) has dropped into the bearish territory below 50. 

A violation at 1.2239 would expose the psychological support at 1.22. On the higher side, the double top at 1.2272 is the level to beat for the bulls. 

15-minute chart

Trend: Bearish

Technical levels