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EUR/USD tumbles after consolidation
EUR/USD appears to have finally broken lower from its period of recent consolidation, with an hourly close below $1.1182 required to provide us with a bearish signal. This conforms to the overall bearish outlook for the pair.
An hourly close below $1.1182 would provide us with a signal that we are going to see further losses, with $1.1158, $1.1149, $1.1131 and $1.1122 the next support levels of note. We would need to post an hourly close back above $1.1226 to negate this bearish view.