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EUR/USD is trading in sideways consolidative move after price failed to pinned above 1.2624 resistance level and price dropped below 1.2519, now pair is making a sustain gain below 1.2624 and even price pinned below 1.2560 support level. 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 1.3258 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 – 1.254, 1st Support – 1.2499, 1st Resistance – 1.2608
