Believe it or not, .702 is a hidden fib most do not use but has been proven to work over and over again. If the price for EURUSD breaks 1.1240 and can retest on the hourly, we certainly are shooting for the .786 as another strong reversal point. We also have many resistances on the daily that hold our .702 level.
As always, this is just my opinion of this pair, please trade at your own risk.