EUR/USD pullback unlikely to last
EUR/USD has been turning lower once more this morning, coming off the back of Friday’s rally through the key $1.2070 level. That break means we remain within an uptrend, and as such this current weakness is perceived to be short-term in nature.
Watch out for trendline and Fibonacci support in the meantime, as potential areas for the market to turn higher once more. We would need to see a break back below $1.1823 to negate this bullish view.