FX.co ★ Technical analysis of EUR/USD for June 16, 2016

Today, EUR/USD stayed below the 50 Moving Average and rejected the R1 (1.1270) resistance based on the Fibs applied to the channel breakout point.

While the S1 (previous resistance) was broken, EUR/USD rejected both R3 (1.1400) and R1 (1.1270) levels. Consider selling EUR/USD either at the current rate (1.1200) or on small pullbacks towards R1. The stop loss should be just above R1.

Support: 1.1185, 1.1050

Resistance: 1.1270, 1.1335, 1.1400