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EUR/USD – Sell-off likely below 1.11

FX:EURUSD   Euro Fx/U.S. Dollar
Despite pair’s sharp recovery from the low of 1.1104 on Friday, the subsequent failure at 1.1202 on Monday and a pull back to 1.1118 suggests the odds of a bearish break below 1.11 are high as also indicated by the falling tops formation on the daily chart .

Breach of 1.11 could yield a quick fire drop to 1.1040 (falling trend line support).

On the higher side, only a daily close above 1.1235 ( trend line hurdle) would signal fresh bullish move.
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