- The pair’s recent advance met quite a strong hurdle in the 1.1730 area, sparking the ongoing correction lower.
- Interim support is waiting near 1.1690, where lies the 21-day SMA. A break of this level should open the door to recent weekly lows near 1.1620 ahead of the more relevant 1.1575/70 band
- In addition, the base of the daily cloud is also a magnet for EUR-sellers.
- While the short-term resistance line caps, the pair’s outlook remains bearish. It needs to regain 1.1790 in order to reassert the upside pressure and allow for a potential test of the mid-1.1800s.
Daily high: 1.1696
Daily low: 1.1672
Support Levels
S1: 1.1668
S2: 1.1644
S3: 1.1605
Resistance Levels
R1: 1.1731
R2: 1.1770
R3: 1.1794
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