The EurUsd is channeling in a descending triangle. The descending triangle consists of its Blue trend line, and its 1.11118 support level in Orange. It has 1.08637 as an objective, and 1.3234 as a rejection level.
As for the channel, the parity was consolidating, lately. If the same consolidation persists, a downward movement to 1.11812 may occur, with 1.12075 as a primary objective.
Breaking out 1.12840 will send the parity to 1.13234, which breaching will reject the descending triangle.
Breaking out 1.11812 will send the parity south to the base of the triangle around 1.11118.
The daily Pivot Point is around 1.12400. The daily support levels are around 1.12004 and 1.11324. The daily resistance levels are around 1.13080 and 1.13476.
As for the channel, the parity was consolidating, lately. If the same consolidation persists, a downward movement to 1.11812 may occur, with 1.12075 as a primary objective.
Breaking out 1.12840 will send the parity to 1.13234, which breaching will reject the descending triangle.
Breaking out 1.11812 will send the parity south to the base of the triangle around 1.11118.
The daily Pivot Point is around 1.12400. The daily support levels are around 1.12004 and 1.11324. The daily resistance levels are around 1.13080 and 1.13476.
