EUR/USD retraces into key Fibonacci support
EUR/USD been continuing its period of weakness, following the rally into a new swing high last week. That break into a new 40-day high means that the current weakness we are seeing is likely to be a retracement, rather than a bearish reversal.
With that in mind, the pullback into the 76.4% retracement is particularly interesting. This deep retracement looks like a good area to go long, with a break back below $1.2239 required to negate this bullish outlook