EUR/USD may fall 22 - 42 pips

Pivot

1.0770

Our preference

Short positions below 1.0770 with targets at 1.0720 & 1.0700 in extension.

Alternative scenario

Above 1.0770 look for further upside with 1.0800 & 1.0820 as targets.

Comment

The immediate trend remains down and the momentum is strong.

Supports and resistances

1.0820

1.0800

1.0770

1.0742 Last

1.0720

1.0700

1.0680

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