EURUSD is trading around 1.0160. Price remains below the Kumo (cloud). Price today closed below the tenkan-sen (red line indicator) and right on top of the kijun-sen (yellow line indicator). As we mentioned in our last analysis, since price is below the Daily Kumo (cloud), we considered the bounce towards 1.03 as a counter trend move. We warned traders that a rejection at cloud resistance was possible. Price is challenging now key support at 1.0160. If Tuesday's close is below 1.0160 we could see more weakness over the next few sessions that can bring price towards 1.01 support. Resistance is found at 1.0255 and next at 1.0315.
