FX.co ★ EUR/USD reversing below major resistance, prepare to sell

The price is now testing major resistance at 1.1824 (Fibonacci retracement, horizontal overlap resistance, pullback resistance) and we expect to see a drop from this level to at least 1.1615 support (Fibonacci retracement, horizontal swing low support, Fibonacci extension).

RSI (34) sees intermediate resistance at 56% which is holding the price down really well. As long as RSI remains below 56%, we will maintain our bearish bias.

Sell below 1.1824. Stop loss is at 1.1928. Take profit is at 1.1615.