Steep fall extends into third day and probing below 1.08 support in European trading on Wednesday. Fresh bears hit the lowest in almost two weeks after bearish signal was generated on Tuesday’s close below important Fibo support at 1.0838 (61.8% of 1.0727/1.1017).
The single currency was already deeply in red when German top court ruling on Tuesday added to negative stance.
Firm break of cracked support at 1.0795 (Fibo 76.4%) would increase risk of retesting 24 Apr low (1.0727).
Broken Fibo 61.8% level now reverted to solid resistance and expected to cap.
Res: 1.0838, 1.0858, 1.0874, 1.0906
Sup: 1.0791, 1.0768, 1.0756, 1.0727
