EURUSD

The Euro holds above fresh lows, with some improvement seen on the hourly chart, as the price cracked initial 1.3144 barrier. However, overall negative tone and lack of strength for more significant gains, keeps the downside at risk. Immediate supports stand at 1.3130 and more significant 1.31 zone, below which, resumption of larger downmove will look for test of 1.3020, double Fibonacci support and psychological 1.3000level. On the upside, 1.3160 offers immediate resistance, ahead of 1.3185/95 and pivotal 1.3220 lower platform / Fibonacci 38.2% of larger 1.3410/1.3108 descend. Break here to signal stronger recovery towards 1.3295, 22 Aug lower top / Fibonacci 61.8% retracement.

Res: 1.3160; 1.3185; 1.3195; 1.3220
Sup: 1.3130; 1.3100; 1.3080; 1.3020

eurusd

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