The Euro remains at the back foot on Tuesday and extends weakness into third consecutive day. Monday’s strong close in red signaled reversal after double upside rejection at 1.1445. Slow stochastic reversed from overbought territory and shows room for deeper correction. Pivotal support at 1.1320 (Fibo 38.2% of 1.1118/1.1445) is under pressure and break here would generate stronger bearish signal. Extension towards next pivot at 1.1243 (20SMA/Fibo 61.8%) seen on break below 1.1320/00. Tops at 1.1445 now mark strong offers. US is closed today for Independence Day and quiet trading is expected.
Res: 1.1376, 1.1400, 1.1426, 1.1445
Sup: 1.1336, 1.1320, 1.1300, 1.1243
