Outlook in EURUSD remains on the downside as long as resistance 1.2865 /1.2930 holds on a daily closing basis, support comes at the 1.2815 levels, losing this level will open 1.2735 next, further losses will pave the way towards the 1.2620 levels head of the 1.2500 levels.
On the upside, resistance comes at the 1.2865 levels ahead of the 1.2930 levels, above the 1.2930 would weaken the current bearish run for retesting the 1.3000 levels before the next fall.
In all as long as resistance 1.2930/1.3000 holds on a daily closing basis, the outlook in EURUSD remains on the downside towards the 1.2730 levels and possible lower towards the 1.2620 levels, above the 1.2930 will bring small recovery towards the 1.3000 levels before the next fall.
Fundamental View :
Too many data has been released from the EUROzone this morning , but the most important was German Manufacturing PMI which released 1 hour ago , the indicator has declined to 50.3 below expectations 51.2 , as a result ,the pair remains under pressure , any rise towards resistance levels is temporary (caused by other indicators), so the pair is likely to consolidate around resistance before collapsing later on the day on US session…