The Euro moves lower after spiking to 1.1839 on Thursday (the highest since 16 May) but failing to close above pivotal barriers at 1.1810 (Fibo 61.8% of 1.1996/1.1509) and 1.1817 (falling 30SMA). Corrective dip is likely to precede fresh upside attempts as momentum turned lower and enters negative territory, while slow stochastic is emerging from overbought territory and supporting the notion. Dips should be ideally contained by 20SMA (1.1735) to keep bulls intact. Break above 30SMA would generate bullish signal for extension towards 1.1881 (Fibo 76.4% of 1.1996/1.1817) and 1.1909 (fibo 38.2% of 1.2555/1.1509 fall). Bearish scenario sees increased risk for deeper pullback on sustained break below 20SMA, while return below weekly cloud top (1.1681) and weekly close in the cloud would signal reversal and turn focus lower.
Res: 1.1805, 1.1837, 1.1881, 1.1909
Sup: 1.1752, 1.1735, 1.1694, 1.1681
