By Christopher Romano — Feb 02 - 02:41 PM
EUR/USD bear signals on the clean break of the 38.2% Fib 1.1602-1.2349
Daily, monthly RSIs drop further, imply downside momentum is building
Large 1.2000 barrier helps to stem EUR/USD slide but bounce is meager
Stops reported below the barrier, 1.2000 break might see longs exit
Rally sellers might then come to the market on fear of missing out
Potential for test near 1.1600 once 1.2000 breaks
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Source:
Refinitiv IFR Research/Market Commentary