The EUR/USD pair continues to trade between Fibonacci levels, offering a neutral-to-bearish stance in the near-term. The 4-hour chart shows that the pair is barely above a still bearish 20 SMA, while below the longer ones, which have lost their bullish strength. Technical indicators are directionless, the Momentum around its 100 level and the RSI around 44. failing to provide directional clues. Chances of a steeper decline will increase on a break below 1.2060, the 38.2% retracement of the November/January rally.
Support levels: 1.2060 1.2020 1.1970
Resistance levels: 1.2170 1.2225 1.2260
Support levels: 1.2060 1.2020 1.1970
Resistance levels: 1.2170 1.2225 1.2260