EURUSD Forecast

The EURUSD was indecisive yesterday but overall still able to maintain its bearish bias and hit 1.2322 earlier today. There are no changes in my technical outlook. The bias remains bearish in nearest term testing 1.2300 – 1.2250/00 area. Immediate resistance remains around 1.2425. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 1.2500 my overall intraday technical bias remains strongly to the downside and only a movement back above 1.2620/41 will interrupt the current strong bearish trend. Fundamental focus today is on US NFP data.


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