Euro Retest Resistance And Negativity Remains

Quiet trading dominated the movements of the euro against the US dollar, in the context of re-testing the resistance indicated in the previous analysis at 1.1750.

Technically speaking today, we find the euro stable below the mentioned resistance level, and the 50-day moving average is still an obstacle in front of the pair, and it meets near the 1.1750/1.1760 level and adds more strength to it, in addition to the gradually losing the bullish momentum stochastic.

Therefore, we will maintain our negative outlook, targeting 1.1700 a first target, knowing that breaking the aforementioned level will facilitate the task required to visit 1.1675 and then 1.1640 respectively.

From the top, to move upwards and rise again above 1.1760. Previously broken support delays bearish chances, but does not cancel them, and we may witness an upside corrective tendency targeting 1.1790 and extending to 1.1820.

S1: 1.1700	R1: 1.1755
S2: 1.1675	R2: 1.1790
S3: 1.1620	R3: 1.1820