Fresh bears probe again through key supports but need clear break for bearish signal
The Euro returned to firm bearish mode after mild reaction on Iran’s rocket attack and probes again through key support at 1.1140 (200DMA / Fibo 38.2% of 1.0981/1.1239) where recent downside attempts repeatedly failed.
Downbeat German factory orders data (Nov -1.3% vs 0.2% f/c) added to negative sentiment.
Fresh weakness also cracked trendline support (1.1126) with firm break below these two levels to generate strong bearish signal for extension of pullback from 1.1239 high.
Daily momentum broke into negative territory and RSI/Stochastic heading south, supporting scenario.
Caution on repeated failure to close below 1.1140 pivot that would undermine bears and signal extended congestion.
Only break above pivotal 1.1200 resistance zone would neutralize and shift near-term focus higher.
Res: 1.1158; 1.1178; 1.1205; 1.1224
Sup: 1.1125; 1.1110; 1.1093; 1.1079