In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 where historical bottoms were previously set in July 2012 and June 2010. Hence, a long-term target was projected towards 0.9450. In March 2015, the EUR/USD bears challenged the next monthly around 1.0570, which had been previously reached in August 1997. Later in April 2015, a strong recovery was observed around the mentioned . However, next monthly (September, October, and November) reflected a strong rejection around the area of 1.1400-1.1500. Again, in February 2016, the depicted price levels around 1.1400-1.1500 acted as a significant during the pullback. That is why, the recent rejection was expected around the depicted supply levels (note the monthly of May, August and October 2016). In the long term, the level of 0.9450 will remain a projected target if the current monthly comes to close below the depicted monthly of 1.0570.