EUR/USD may fall 27 - 47 pips

Pivot

1.0840

Our preference

Short positions below 1.0840 with targets at 1.0800 & 1.0780 in extension.

Alternative scenario

Above 1.0840 look for further upside with 1.0855 & 1.0870 as targets.

Comment

As long as 1.0840 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

1.0870

1.0855

1.0840

1.0827 Last

1.0800

1.0780

1.0765

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