A rejection from 1.1448 still valid | 05 Juli 2017
05 Juli 2017, EUR/USD
Technical Observation
Eur is currently trading slightly above it's weekly pivot line, 1.1347 but below a key resistance line 1.1448. Unless this resistance line is not breached to the upper side with a big green candle, I'm waiting for a clear rejection signal from 1.1448 to short Eur towards 1.0443. A breakout above 1.1448 will mean waiting for a pullback to the just broken line to re-buy Eur towards 1.2766. On the weekly chart above, I still expect further decline towards 1.1270 and even lower to 1.0443.
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