EUR/USD inside a key support area

EUR/USD inside a key support area

The EUR/USD pair was smashed during Friday’s session amid a strong USD across the board, helping to push the pair towards the Fibonacci zone of 65% at 1.2255. If the pair manages to rebound above that area, we can expect a rally to test the Fibonacci area of -23.6% at 1.2513. To the downside, the 1.2255 could be a tough nut to crack and helps to cap more declines toward the 1.2216 zone.

RSI indicator stays in the negative territory, favoring to the bearish bias.

EURUSDH1.png

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