EUR/USD may fall 41 - 55 pips

Our pivot point is at 1.1114.

Our preference

The downside prevails as long as 1.1114 is resistance.

Alternative scenario

Above 1.1114, look for 1.1137 and 1.1151.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.1110 and 1.1107). Finally, the EUR/USD is trading below its lower Bollinger band (standing at 1.1089).

Supports and resistances

1.1151 **

1.1137 *

1.1114 **

1.1105

1.1087 last

1.1046

1.1032 **

1.1018 *

1.1005 **

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