EURUSD Chart Technical Outlook intraday rallies to find sellers, resistance located at 1.0881
EUR Basket – the previous swing high of 644 (Mar 5) has been broken. We have stalled at the 161.8% extension level of 649. The immediate bias is mildly bearish.
Correlation studies suggest more downside pressure for EUR/USD.
EUR/USD – we have broken through the trend line support. The reverse trendline resistance is located at 1.0901. On a short-term basis, we are trading between bespoke support at 1.0855 and resistance at 1.0881. The focus is on 1.0805 and 1.0804. This is bespoke support and the 61.8% Fibonacci pullback level from the 1.0695 to 1.0981 move.
Resistance: 1.0881 (bespoke), 1.0901 (reverse trend line), 1.0981 (swing high)
Support: 1.0855 (bespoke), 1.0805 (bespoke), 1.0804 (61.8%)
