ICmarkets

EURUSD Testing Resistance, Potential For Reversal

Short
FX:EURUSD   Euro / U.S. Dollar
EURUSD is testing its resistance at 1.1781 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing high resistance) where a reversal to its support at 1.1607 (38.2% Fibonacci retracement, horizontal swing low support) could occur.
Stochastic (89, 5, 3) is testing its resistance at 97% where a corresponding drop could occur.

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