EUR/USD may fall 21 - 41 pips

Pivot

1.1040

Our preference

Short positions below 1.1040 with targets at 1.0990 & 1.0970 in extension.

Alternative scenario

Above 1.1040 look for further upside with 1.1060 & 1.1080 as targets.

Comment

As long as 1.1040 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

1.1080

1.1060

1.1040

1.1011 Last

1.0990

1.0970

1.0950

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