EUR/USD nears 23.6% Fibo support

FX:EURUSD   Euro / U.S. Dollar
Resistance – 1.1465, 1.15, 1.1534

Support – 1.1431, 1.14, 1.1342

  • Euro’s failure to take out 1.1534 yesterday followed by exhaustion near 1.15 today saw the currency drift lower to near 1.1431 (23.6% of 76.4% of 1.1714-1.0517).
  • The hourly RSI is nearing oversold territory and daily RSI stays above 50.00.
  • Consequently, a rebound from 1.1431 could be seen and may yield a re-test of 1.1465. A break higher would expose 1.15 handle.
  • On the lower side, breach of 1.1431 would shift risk in favor of a drop to 1.14.

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