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EURUSD – Fresh Bearish Acceleration Could Extend Towards Daily Kijun-Sen / Cloud Base

The Euro broke below daily Tenkan-sen (1.0723) and 20SMA (1.0691) supports and extended losses on today’s fresh acceleration lower.

With 1.0700 support zone that held during past two days being taken out, the pair heads towards next pivot at 1.0641 (Fibo 38.2% of 1.0318/1.0827 ascend).

Break here is needed to confirm reversal and open way for extension towards daily Kijun-sen at 1.0583, possibly to daily cloud base at 1.0550.

Broken Tenkan-sen now acts as resistance (1.0723) which should limit corrective attempts and keep fresh near-term bears in play.

Res: 1.0692, 1.0723, 1.0754, 1.0789
Sup: 1.0641, 1.0600, 1.0583, 1.0550

Windsor Brokers Ltd
Windsor Brokers Ltdhttp://www.windsorbrokers.com/
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