The Euro bounces from new multi-month low at 1.0904 (the lowest since early May 2017) on Friday, as bears faced headwinds from 1.0900 (round-figure support) after key level at 1.0926 (3/12 Sep double-bottom) was taken out on Thursday. Better than expected US Durable goods orders data (Aug 0.5% vs 0.2% f/c, -0.5% prev) helped dollar and slowed Euro bears. Daily studies maintain strong bearish momentum but oversold stochastic warns of pause before final break lower. Upside attempts were so far limited under initial barrier at 1.0960 (falling 5DMA), which guards more significant resistances at 1.10 zone (broken Fibo 61.8% / psychological). Bears need weekly close below 1.0926 pivot is need to signal continuation towards Fibo support at 1.0863 (76.4% of 1.0340/1.2555).
Res: 1.0948; 1.0960; 1.0996; 1.1011
Sup: 1.0900; 1.0863; 1.0839; 1.0820
Recommend professional Forex robots