EURUSD Daily Forecast Apr 04 2017

EURUSD, Bearish Eyes The 1.0600 Levels!

EURO - dollar - 5468

EURUSD, Bearish Eyes The 1.0600 Levels!

Outlook in EURUSD remains on the downside as long as 1.0768 resistance holds on a daily closing basis, support comes at the 1.0602/1.0569 levels,  a halt is likely and a reversal may occur, however; a cut through the 1.0569 levels would open 1.0480, further down, support comes at the 1.0380 levels.

On the upside, resistance stands at the 1.0701 levels ahead of the 1.0768 levels (main), above 1.0768 sees a recovery risk to the 1.0872 levels before the next falling….

Conclusion: The EURUSD continues to face downside threats below the 1.0768 levels with risk to the 1.0602 levels, above 1.0768 levels sees a recovery risk to the 1.0872 level before the next falling…

Note: a short-term support has been printed at the 1.0641 levels so we have a few options here:

1- The pair may rebound to 1.0700/1,0768 levels before the next down…

2-  It may slip below 1.0641 to test 1.0600 levels before reversing to the upside quickly?