Outlook in EURUSD has turned neutral with risk to the downside , resistance comes at the 1.2469 levels, a failure to hold above the 1.2469 levels on a daily closing basis could mean a return to the 1.2357 levels where a cut will call for a fall towards the 1.2190 levels , further losses will aim the 1.2042 levels .
On the upside , resistance comes at the 1.2469 levels , break of the 1.2469 levels on a daily closing basis , will put the pair in recovery mode , but recovery above the 1.2469 levels should be limited by the 1.2576/1.2630 levels where fall resumption is likely , however ; sustained trading – daily closing – above the 1.2630 levels will bring strong recovery towards the 1.2770/1.2886 levels before the move !!!
In all , as long as resistance 1.2469 holds on a daily closing basis , outlook in EURUSD remains on the downside towards the 1.2340 levels ahead of the 1.2200 levels , above 1.2469 faces a recovery risk towards the 1.2576/1.2630 levels before the next fall.
- In case the pair manage to hold gains above the 1.2469 levels , next resistance on daily chart comes at the 1.2576 levels ahead of the 1.2630 levels (main) , weekly resistance comes at the 1.2613 levels , with lack of critical news this week , 1.2576/1.2630 should hold and bring fall resumption !!!!
- On the downside , a rejection from the 1.2469 levels on a daily basis , followed by a daily closing below the 1.2456 levels should bring a lower leg below the 1.2357 levels……