Near-term risk shifts lower after repeated upside rejections
The Euro edges lower in early Tuesday’s trading and probes again through cracked Fibo support at 1.0831 (61.8% of 1.0635/1.1147 upleg) after Monday’s action was repeatedly capped by 10DMA / broken bull-trendline drawn off 1.0635 low.
Persisting demand for safe-haven dollar keeps the Euro under pressure, with bearish daily studies adding to negative outlook.
Eventual close below 1.0831 pivot after triple failure would generate bearish signal for test of another key supports at 1.0768/56 (6 Apr low / Fibo 76.4%), violation of which would open way towards 1.0635 (23 Mar low, the lowest since Apr 2017).
Res: 1.0870; 1.0891; 1.0917; 1.0951
Sup: 1.0811; 1.0768; 1.0756; 1.0700