Technical outlook:
EUR/USD drops below 1.0768 levels today and hits 1.0756 levels. The single currency pair is seen to be trading around 1.0765 levels at this point in writing and is expected to find support around 1.0745 levels before turning higher again. lease note that 1.0745 is also the fibonacci 0.786 retracement of the entire rally between 1.0636 and 1.1150 respectively. If EUR/USD drops below 1.0745 consistently, it could threaten 1.0636 lows as well. For now, the overall structure remains constructive until prices stay above 1.0636 levels and bulls would still be inclined to push towards 1.1500 levels going forward. Immediate support is at 1.0745, while interim resistance is seen towards 1.0886 levels respectively. A break above 1.0886 would be encouraging for bulls.
Trading plan:
Remain long stop at 1.0636, target is open.
Good luck!
