The EURUSD finds support at the 1.2640 levels on a 4 hour basis few hours ago ,but…..1 hour ago , It has printed resistance at the 1.6295 levels on a 4 hour basis , that’s a prove for one thing , there’s a strong fight between buyers and sellers .
On the downside , losing the 1.2640 levels on a 4 closing basis will open the 1.2500 levels , further losses will pave the way towards the 1.2389 levels .
On the upside , break of the 1.2695 levels on a 4 hour basis , will extend rebound towards the 1.2740/1.2760 levels before the next move !!!
Note that daily chart is strongly down as long as 1.2740 holds on a daily closing basis.Conclusion : the pair needs to break below 1.2640 to resume fall from 1.2886 , otherwise , consolidation may continue above the 1.2640 levels..