EUR/USD may fall 25 - 40 pips

Pivot

1.0835

Our preference

Short positions below 1.0835 with targets at 1.0805 & 1.0790 in extension.

Alternative scenario

Above 1.0835 look for further upside with 1.0850 & 1.0870 as targets.

Comment

As long as 1.0835 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

1.0870

1.0850

1.0835

1.0830 Last

1.0805

1.0790

1.0775

Number of asterisks represents the strength of support and resistance levels.