The EURUSD had another volatile day yesterday.
There are no changes in the technical outlook. The model remains neutral in the short term. Price has been moving sideways between 1.3870 – 1.3607 since last week. We need a clear break from the range area to see clearer direction.
I still prefer a bearish outlook right now. Only a clear break back above the 38.2% Fibonacci retracement of 1.4246 – 1.3607 and 1.3870 resistance area might cancel the bearish outlook which started since the fall from 1.4246, possibly testing 1.4000.
Immediate support is around 1.3680 (yesterday’s low) followed by 1.3607.
There are no changes in the technical outlook. The model remains neutral in the short term. Price has been moving sideways between 1.3870 – 1.3607 since last week. We need a clear break from the range area to see clearer direction.
I still prefer a bearish outlook right now. Only a clear break back above the 38.2% Fibonacci retracement of 1.4246 – 1.3607 and 1.3870 resistance area might cancel the bearish outlook which started since the fall from 1.4246, possibly testing 1.4000.
Immediate support is around 1.3680 (yesterday’s low) followed by 1.3607.