The Euro accelerated lower after explosions in Brussels, extending two-day pullback from 1.1341, last week’s recovery high. Fresh weakness probed below 1.12 handle, looking for immediate support at 1.1175 (rising 10SMA), which guards more significant 1.1145 support zone (daily Ichimoku cloud top / Fibo 38.2% of 1.0820/1.1341 ascend).
Extended dips should be ideally contained here, as rising daily cloud supported the action since repeated downside rejection at 1.0820, to keep daily bulls in play for renewed attempts higher.
However, Slow Stochastic of daily chart has reversed from overbought territory and shows more room at the downside. Violation of 1.1145, would look for test of psychological 1.11 support, reinforced by daily 30SMA.
Initial resistances lay at 1.1245 (5SMA) and 1.1260 (session high), regain of which to sideline immediate bearish threats.
Res: 1.1245; 1.1260; 1.1283; 1.1305
Sup: 1.1187; 1.1175; 1.1145; 1.1100
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