- The EUR/USD is on pace to continue Monday’s declines as the Euro softens on a rebounding Greenback.
- Higher timeframes have the pair rejecting from recent swing points, etching in a downside channel on H4 candles while Daily candlesticks see a constraining bearish flag forming.
- It’s Markit PMI day in Europe, and Euro bulls will be looking for a better-than-expected showing in Germany and for the broader EU to kickstart a recovery.
Spot rate: | 1.1680 |
Relative change: | -0.06% |
High: | 1.1701 |
Low: | 1.1674 |
Trend: | Bearish |
Support 1: | 1.1641 (61.8% Fibo retracement level) |
Support 2: | 1.1574 (previous week low) |
Support 3: | 1.1507 (June 26th low) |
Resistance 1: | 1.1701 (current day high) |
Resistance 2: | 1.1750 (current week high) |
Resistance 3: | 1.1803 (R3 daily pivot) |