The EURUSD has once again confirmed it is trading in a downtrend by breaking below previous structure lows last week. This implies that we could expect another pullback to somewhere slightly below the previous swing high. In terms of key resistance levels, there is the Weekly R1 @ 1.170 as well as the 50 Daily SMA @ 1.176 and Monthly R1 Pivot @ 1.180. But perhaps before all this, there might be one more push lower to diagonal support @ 1.154 after a failed test of the Weekly Pivot.
