EURUSD A Good Citizen Takes a Little and Then Gives Back

 

The pair has been drifting lower after shooting higher to touch the descending trend line on Friday.  The cross is now settling in near where the pair opened Friday in New York around 1.2570.  This level could support the pair in the short-term.  If the EURUSD breaks below this level we could see a test of 1.2520.  Resistance begins with the .382 fib from the May lows at 1.2667.  Followed by the descending trend line at 1.2680.

Sup    1.2570             1.2520

Res    1.266780

Plan:  Waiting for a bounce to short.

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