- EUR/USD's bounce stay so far limited around the 1.1920 area.
- The mid-1.1800s emerge as the next contention zone.
EUR/USD gives away part of Monday's bullish attempt to levels past the 1.1900 yardstick.
The EUR/USD pair keeps meeting sellers around a critical Fibonacci resistance, the 61.8% retracement of its March/May rally at around 1.1920. In the 4-hour chart, the risk is scheduled to the downside, as the pair is unable to recover above a previous high ( 1.1920) , struggling around it.
The pair could recover, if the recovery gathers extra steam, then the door could open to a potential re-visit critical round figure mark at 1.2000. There is, however, a minor hurdle at a Fibo level at 1.1976. On the other hand, if sellers regain the upper hand on a convincing fashion, then there is scope for another quick visit to the 1.1850 region.
Support levels: 1.1840 1.1800 1.1770
Resistance levels: 1.1920 1.1960 1.2000
