EUR/USD Price Analysis: Bears take on key support and eye a 78.6% daily Fibo
- EUR/USD bears eye a break of trendline support that guards a run to a daily 78.6% Fibonacci retracement.
- Bulls need to commit above 1.0780 and then 1.0700.
As per the prior analysis, EUR/USD Price Analysis: Bulls run into key resistance but ride dynamic support, the price has been unable to take off and is submerging itself below the aforementioned resistance:
EUR/USD prior analysis
EUR/USD updates
The lower time-frame charts show that the price is taking on 1.0820 support that guards 1.0780.
A break of the trendline support would be a significant development in what could open risk all the way to the 78.6% Fibonacci retracement of the prior daily bullish trend and the wedge counter-trendline support.