EUR/USD may fall 35 - 60 pips

Pivot

1.0700

Our preference

Short positions below 1.0700 with targets at 1.0650 & 1.0625 in extension.

Alternative scenario

Above 1.0700 look for further upside with 1.0720 & 1.0730 as targets.

Comment

As long as 1.0700 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

1.0730

1.0720

1.0700

1.0685 Last

1.0650

1.0625

1.0600

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