EUR/USD stuck at H&S neckline

FX:EURUSD   Euro / U.S. Dollar
Despite rebound from the low of 1.1150, the pair’s subsequent struggle to breach head and shoulder neckline following Friday’s bearish day end close suggests increased risk of a fresh drop to 1.1149 (Friday’s low).

Violation at 1.1149 and a drop towards 1.11 handle appears likely if we take into consideration the bearish MACD .

Only a day end close above the neckline would suggest bearish invalidation.
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