EUR/USD: Bears May Take a Breather Before Larger Downtrend Resumes

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<p>EURUSD hit new multi-month low early Wednesday and showing scope for further weakness after break of pivotal Fibo support at 1.0611 (38.2% of 0.9535/1.1275) generated fresh bearish signal. Bears cracked next strong support at 1.0553 (top of thickening weekly cloud) and may pause here, as daily studies are oversold. Overall bearish daily studies reinforce negative [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.actionforex.com/contributors/technical-analysis/520532-eur-usd-bears-may-take-a-breather-before-larger-downtrend-resumes/">EUR/USD: Bears May Take a Breather Before Larger Downtrend Resumes</a> appeared first on <a rel="nofollow" href="https://www.actionforex.com">Action Forex</a>.</p>