EUR/USD Outlook: Bears probe again below key Fibo support
|EUR/USD
The Euro returns below 1.10 handle in early American trading on Thursday, following mild reaction on US weekly jobless claims that rose to five-month high and temporarily deflated dollar.
Fresh weakness pressures again key Fibo support at 1.0993 (61.8% of 1.0878/1.1179), cracked earlier today, with close below here to generate bearish signal for attack at daily cloud base (1.0975).
Meanwhile, bears may take a breather and consolidate before final break lower, as oversold daily stochastic and north-heading momentum (although still in the negative territory) suggest. Upticks should ideally stay below falling 55DMA (1.1035) to keep bears in play and pivotal barrier at 1.1064 (broken Fibo 38.2%/30DMA) intact. Focus turns towards Friday's release of EU CPI and a batch of data from the US that may provide fresh signals.
Res: 1.1015; 1.1035; 1.1054; 1.1064
Sup: 1.0989; 1.0968; 1.0949; 1.0903
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