Good morning,
Overnight moves again..two days in a row during asian hours has seen EURUSD being under pressure.
Interestingly enough, when reserve managers are not on the bid, it doesn't really seem that the market is very keen to buy Euros.
As I said yesterday, I think we continue lower in the pair and you will find some small support in the lows around 1.3835, followed by the base of the triangle situated around 1.3790. This break of this area would be as important as when we broke 1.4005 on the upside and would definitely signal that we have seen the highs for a while. This is my preferred scenario!!
On the upside, 1.3880-90 followed by 1.3950 should be the resistance levels.
Good luck,
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