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EUR/USD – Bearish inverted hammer candle on daily chart

FX:EURUSD   Euro / U.S. Dollar
Support – 1.1465, 1.1431, 1.14

Resistance – 1.1534, 1.1567, 1.16

  • Euro’s bearish inverted hammer candle formation on daily chart , if followed by a break below 1.1464 today would shift risk in favor of a drop below 1.1429 levels.
  • As said earlier this week, bulls need to defend 1.1429 as a violation there after failing to sustain above key resistance zone of 1.1430-1.1534 would open doors for a slide to 1.1202 (5-MA on monthly).
  • On the higher side, 1.1534 is an immediate resistance, which needs to be breached if the pair has to re-test 1.16 levels.
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