Yesterday, the EurUsd
failed again to settle above its Major resistance area
, which is highlighted on the chart. It fell back below its major resistance area
, as soon as it touched the its blue trend line
. The Parity is still facing a strong selling pressure around its blue trend line
. The EurUsd
is currently in an descending triangle
, which has 1.08637 as an objective, and 1.13234 as a rejection level.
On a daily scale, the patterns suggest a retreat towards 1.11118, with 1.11568 as a primary objective, should the parity breaches 1.11735. An upward movement, though less probable, will send the parity to 1.12575, with 1.12366 as a primary objective.
The daily Pivot Point
is around 1.12159. The daily support levels are around 1.11425 and 1.11002. The daily resistance levels are around 1.12582 and 1.13316.