The EURUSD maintained a bearish momentum yesterday. Topped at the 1.3762 levels, and bottomed at the 13684 levels. Now the pressure will be on the key support 1.3684.
The EURUSD will have to hold below the 1.3684 levels on a daily closing basis to push the market for further downside losses. If seen, It will target the 1.3650 levels where a breach will turn the focus on the 1.3620 levels. Further out will aim the 1.3585 levels.
On the upside, a failure to hold below the 1.3684 levels could mean a return to the 1.3762 levels. If seen, a halt is suggested. But a breach will turn the focus on the 1.3830 levels ahead of 1.3892 levels.
In all, the EURUSD is likely to consolidate within 1.3684/1.3762 range before the next move. For Intraday traders, buying the pair is recommended after rejection above the 1.3684 with a target towards /below 1.3762 levels, and selling the pair is recommended after rejection from/below the 1.3762 levels with a target towards/below the 1.3684 levels.