Technical analysis on EUR/USD for June 28, 2018

EUR/USD has broken below critical support yesterday and the RSI has also broken below its support trend line implying that we should soon see a move below 1.15. The trend is bearish as long as the price is below 1.1720.


Magenta line - horizontal support

Blue line - RSI support (broken)

Yesterday I mentioned in my analysis that if RSI price broke below the blue trend line support we should expect the price to fall towards 1.1590 and lower. This is what happened yesterday as support did not hold. Next support is at 1.15 and I believe that as long as we are below 1.1720 any bounce should be sold. The trend is bearish. Next target is at 1.1450.

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