- Euro's failure to rise above rising trend line hurdle earlier today followed by a drop to 1.15 handle has resulted in a formation of a bearish inverted hammer candle on the daily chart.
- A daily closing today below critical support of 1.1534 would open doors for a drop further to 1.1464 levels.
- As noted here. area between 1.1430-1.1534 has acted as a strong resistance on numerous occasions. Hence, it is imperative the pair sustains above the same otherwise..
- Failure to sustain above the said technical levels, followed by a drop below this week's/month's low of 1.1429 would expose monthly 5-MA seen at 1.1207 levels.
