EUR/USD may fall 27 - 40 pips

Our pivot point stands at 1.0893.

Our preference

The downside prevails as long as 1.0893 is resistance.

Alternative scenario

Above 1.0893, look for 1.0916 and 1.0930.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.0887 and 1.0889).

Supports and resistances

1.0930 **

1.0916 *

1.0893 **

1.0884

1.0875 last

1.0848

1.0835 **

1.0821 *

1.0807 **

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