Outlook in EURUSD has turned to the downside as long as 1.2433/1.2515 resistance holds on a daily closing basis , support comes at the 1.2320 levels , a break would open 1.2246 next , further down will aim the 1.2165 levels ahead of the 1.2070 levels.
On the upside , a failure to hold below the 1.2320 levels on a daily closing basis could mean a return to the 1.2433/1.2515 levels before the next fall , however ; break of the 1.2515 will open 1.2600 levels before the next move .
In all , as long as 1.2433/1.2515 resistance holds on a daily closing basis , outlook in EURUSD remains on the downside towards the 1.2250 levels ahead of the 1.2165 levels , above 1.2515 will reverse risk towards the 1.2600/1.2630 levels .
Intraday : On the 4 hour time frame , the pair is under heavy pressure as long as 1.2385 resistance holds on a 4 hour closing basis , support comes at the 1.2320 levels , a cut would open 1.2270 next , further down will aim the 1.2200 levels ahead of the 1.2160 levels. On the upside , break of the 1.2385 levels will turn outlook neutral and bring rebound towards the 1.2477 levels before the next fall….!!!!