The Euro is consolidating above new 17-week low (1.0905) on Tuesday, following steep and uninterrupted fall in past six days. Bears eye key supports at 1.0878/63 (1 Oct low / Fibo 76.4% of 1.0340/1.2555 ascend) after the last obstacle en-route at 1.0940 (8 Oct trough) was taken out on Monday. Daily techs are in full bearish setup but deeply oversold stochastic and RSI in sideways mode at oversold zone border, warn that bears may take a breather before final push lower. However, no firmer signal seen so far as stochastic indicator is still heading south and keeping the way towards 1.0878/63 targets open. Break here would signal completion of corrective phase from Sep (1.0878/1.1239) and continuation of larger downtrend from 2018 peak at 1.2555. Falling 5DMA offers initial resistance at 1.0949, followed by broken Fibo support at 1.0963 and pivotal 1.10 barrier (reinforced by falling 10DMA), break of which is needed to neutralize bears.
Res: 1.0984, 1.1000, 1.1022, 1.1039
Sup: 1.0948, 1.0928, 1.0878, 1.0863
