EUR/USD reverse in price is almost over after pair failed to extend higher and dropped below 1.2733 support level, towards retest of the swing low, but price is going to retest this level once again, towards drop below 1.2733 and now price is trading towards retest of the 1.2624 low. If there is a positive break below price will plunge towards lower lows. Our intraday bias is on down side after price broke is making a sustain trade below crucial 1.3147 support level, this is the key moment that splits bulls from bears. On the upside, price needs a to overcome 1.2858 level and make a consistent trade above, if price break above 1.3056 this would flip back again bias to bullish. Only sustain trade above that level would send EUR/USD to 1.3147 level.
On down side, price is continues to fall after a flag pattern on big charts. Only sustain trade below 1.32858 level is in favor of down move towards test of 1.2624 low. Further decline would be seen after positive break below key support level. Sustain trade below it would bring further decline in price towards 1.2560 support level.
Daily Pivots: Pivot Point – 1.2717, 1st Support – 1.2620, 1st Resistance – 1.2774