EURUSD under the negative pressure – Analysis - 21-06-2017

The EURUSD pair traded negatively yesterday heading to our waited target at 1.1060, which represents 23.6% Fibonacci correction level for the last bullish wave, and the bearish bias will remain preferred as long as the price below 1.1215, where breaching this level will stop the current bearish correctional pressure and pushes the price to resume its main bullish track.

It is important to monitor the price behavior when reaching 1.1060 level, where breaking it will push the price to extend its bearish correction and targets 1.0922 levels before any new attempt to rise.

Expected trading range for today is between 1.1000 support and 1.1215 resistance.

Expected trend for today: Bearish