Euro: Negative Pressure Persist

The pair was able to retest the 1.1750 resistance level, which was an obstacle in its path, which forced it to move within an expected bearish path.

Technically, the intraday moves are witnessing stability below the 1.1720 resistance level, accompanied by the continuation of the negative pressure coming from the simple moving average.

Therefore, we will maintain our negative outlook, targeting 1.1675 as a first target, followed by 1.1620 and may extend later towards 1.1540, 38.20% retracement.

Only from the top, a break above 1.1750 delays the chances of a pullback, and we see an intraday path targeting 1.1800 and 1.1840, respectively.

S1: 1.1675	R1: 1.1750
S2: 1.1620	R2: 1.1800
S3: 1.1575	R3: 1.1845