EUR/USD Technical View

Euro broke lower on Wednesday getting below 1.4700 and printed a low at 1.4640. The downside momentum is not that big but the pair is slowly heading lower as expected, next bearish target is the 1.4600 round level which coincides with the 61.8 Fibonacci retracement line of the bigger move north from October’s 1.4000 low to November’s 1.4967 record high. Looking at the daily chart below we can spot clearly the next areas where eurUsd might found support and these are 1.4600 and 1.4500 both levels that have proven to be relevant to price action in the past.
Resistance Levels

• 1.5000– round number
• 1.4966- Nov 23rd high
• 1.4735 –Nov 9th High

Support Levels

• 1.4500- round number
• 1.4300 – Sept 30th High
• 1.4000 – Round number
• 1.3850 – July 24th High

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