Euro’s break below 1.1123 suggests the currency’s rising trend from 1.0952 to 1.1366 has ended and a larger retreat from the high of 1.1616 appears to have resumed with immediate resistance seen around 1.10669 (falling trendline support), which could be breached as well, especially if the US wage growth and non-farm payrolls report is strong.
On the higher side, only a daily close above 1.1213 (yesterday’s high) could signal a short-term bottom is in place.
On the higher side, only a daily close above 1.1213 (yesterday’s high) could signal a short-term bottom is in place.
