EURUSD pulling back from 1.1450 mark

EURUSD is pulling back from 1.1450 levels and is seen to be trading around 1.1385 levels as we prepare to publish. By all means, it could just be a retracement and bulls might prepare to push towards 1.1500 resistance next. Having said that, it is not mandatory for EURO to hit 1.1500 before reversing lower again. The fibonacci retracements for the bullish boundary between 1.0775 and 1.1450 have been spread on the chart. Initial support might be seen towards 1.1170 levels, which is the 0.382 retracement. Moving further lower, EURUSD could drop towards 1.1017 levels as well. Either way, prepare for a EURUSD meaningful retracement from here or from 1.1500 respectively.

Strategy:

Short against 1.1550, targeting below 1.1000

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