EUR/USD Intraday Outlook 20.11.14
Sentiment
Bearish
Although the pair has been consolidating we must not forget that this pair has been in a downward trend for some time. This pair seems to be facing significant pressure to the downside and has failed to break above major resistance around the 1.25600 level.
Price has broken below the 1.25300 support which could be showing the bears are starting to overcome the bulls a failure at the retest of this level would confirm a bearish move.
Next Support Levels
1.24745
1.24426
1.24076
If price does manage to break the resistance at 1.25600 we could see a significant move to the upside.
Resistance Levels
1.26000
1.26300
1.26600