EUR/USD dropped to 1.2214 last week but recovered since then. Initial bias is neutral this week first. As long as 1.2344 minor resistance holds, further decline is expected. Break of 1.2214 will target 1.2154 key support first. Firm break there should confirm rejection by 1.2516 key fibonacci resistance. In that case, whole decline from 1.2555 should target 38.2% retracement of 1.0339 to 1.2555 at 1.1708 next. However, break of 1.2344 will turn bias back to the upside for 1.2475 and above to extend recent range trading.
EUR/USD-take profit at 1.2304
next level 1.2345