EURUSD is falling toward 1.09 after making a brief break above 1.10 last week. The rejection of levels above 1.10 has the potential to form a double top
pattern with the previous peak here from early February (see daily chart below).Â
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Similarly like in February, EURUSD could not hold onto gains above 1.10 for more
than 1.10. This is a slight bearish sign by itself but is not enough to signal a full reversal. For that, EURUSD will need to break some support levels on the daily chart.
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The first support zone on the daily chart is 1.09. A break below here should clear the road for the next support to be reached at 1.0750. The most important support in the longer-term context remains at 1.05.