- 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.
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
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