The Euro cracked 12 support zone in extension of steep fall that extends into third day and pressures next pivotal supports at 1.1181/79 (18 June trough/Fibo 76.4% of 1.1107/1.1412 ascend). The single currency stands at the back foot on stronger dollar and on expectations of ECB rate cut and also being dragged lower by weak pound. Rising bearish momentum on daily chart maintains pressure, as fresh weakness generated bearish signal on break below the neckline of asymmetric H&S pattern, confirmation of which requires close below the neckline (1.1203). Firm break below 1.1181/79 pivots would expose key supports at 1.11 zone (lows of 26 Apr / 23/30May, also the lowest since May 2017). Oversold daily stochastic warns that bears may take a breather before final push through 1.1181/79 triggers. Broken supports at 1.1203 (neckline) and 1.1223 (Fibo 61.8% / 5DMA) should limit upticks and keep bears in play.
Res: 1.1203, 1.1223, 1.1235, 1.1245
Sup: 1.1181, 1.1160, 1.1125, 1.1116