FX.co ★ EUR/USD approaching resistance, potential drop!

EUR/USD is approaching our first resistance at 1.1362 (horizontal pullback resistance, 76.4% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur below this level pushing the price down to our major support at 1.1318 (horizontal swing low support, 23.6% Fibonacci retracement). Stochastic (34,5,3) is also nearing our first resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment, so please ensure you fully understand the risks.