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  • EUR/USD met resistance at 1.1720 resistance and is now trading below the 1.1700 figure.  
  • Market participants will pay particular attention to the FOMC meeting minutes at 18:00 GMT. The event is likely to lead to high volatility.
  • EUR/USD bulls need to reclaim 1.1700, 1.1720 and 1.1730 resistances in order to extend the bull move. Failure to do so can lead to a rotation towards the 1.1600 figure.

EUR/USD 15-minute chart

Spot rate:              1.1692
Relative change:   0.31%  
High:                     1.1721
Low:                      1.1649

Trend: Bearish sub 1.1700-1.1730

Resistance 1 1.1700 figure
Resistance 2: 1.1720 last week’s high
Resistance 3: 1.1730, 23.6% Fibonacci retracement from mid-April-May bear move
Resistance 4: 1.1800 figure
Resistance 5.1854, 38.2% Fibonacci retracement from mid-April-May bear move

Support 1: 1.1672 June 27 high
Support 2: 1.1640 supply/demand level
Support 3: 1.1600 figure
Support 4: 1.1560 June 14 low
Support 5: 1.1527 last week’s low
Support 6: 1.1508 current 2018 low