EUR/USD may fall 16 - 46 pips

Pivot

1.0780

Our preference

Short positions below 1.0780 with targets at 1.0730 & 1.0700 in extension.

Alternative scenario

Above 1.0780 look for further upside with 1.0800 & 1.0820 as targets.

Comment

As long as the resistance at 1.0780 is not surpassed, the risk of the break below 1.0730 remains high.

Supports and resistances

1.0820

1.0800

1.0780

1.0746 Last

1.0730

1.0700

1.0670

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