EUR/USD turning lower once again
EUR/USD is turning lower yet again this morning, in what looks like a three-stage retracement of the $1.2299-$1.2414 rally.
With the pair ascending from the bottom of a three-month range, there is a good chance we will see another leg higher before long, with a drop below $1.2299 required to negate the recent uptrend. As such, further short-term downside is a distinct possibility. Although, longs would be interesting around the Fibonacci support zone $1.2326-$1.2343.