This week has been a difficult week for EURUSD, the pair moving within a range that gradually put it into lower position.
Now 1.22892 currently being tested, the result could determine the next movement of the pair,
a sustained movement above 1.22892 will bring the pair gradually move up to reach the 0.618 fibo or event 0.5 fibo level, meanwhile a sustained movement below 1.22892 will bring back the price to level 1.22620, as previous price behaviour at this area during 16-22 March we can see that the price keep bouncing before take strong move to 1.234xx or down to 1.224xx
PS: Fibonacci Retracement from 1.22390 to 1.24645
Now 1.22892 currently being tested, the result could determine the next movement of the pair,
a sustained movement above 1.22892 will bring the pair gradually move up to reach the 0.618 fibo or event 0.5 fibo level, meanwhile a sustained movement below 1.22892 will bring back the price to level 1.22620, as previous price behaviour at this area during 16-22 March we can see that the price keep bouncing before take strong move to 1.234xx or down to 1.224xx
PS: Fibonacci Retracement from 1.22390 to 1.24645