The Euro fell pivotal supports at 1.1015/00 in fresh bearish acceleration on Wednesday, as sentiment weakened on expectations for dovish stance from ECB on Thursday.
Multiple failures to clear important Fibo barrier at 1.1049 and recent action being repeatedly capped by falling 20DMA, were initial signals od recovery stall and subsequent easing, with ECB and stronger than expected US PPI data on Wednesday, contributing to fresh weakness.
Daily indicators turned south and MA's came to bearish setup, adding to negative near-term outlook.
Daily close below psychological 1.10 support will be negative signal, which needs confirmation on extension and close below 1.0986 (Fibo 61.8% of 1.0925/1.1084 upleg).

Res: 1.1000; 1.1015; 1.1049; 1.1055
Sup: 1.0986; 1.0963; 1.0925; 1.0863



Interested in EUR/USD technicals? Check out the key levels

    1. R3 1.1092
    2. R2 1.1076
    3. R1 1.1063
  1. PP 1.1047
    1. S1 1.1034
    2. S2 1.1018
    3. S3 1.1005

The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

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