EUR/USD surprisingly turned south yesterday after reaching 1.2169 EBS

Strong European data fuelled rise. Higher U.S. yields driving the decline

Pair slides into lower half 20-Day Bollinger bands 1.2305, 1.2100 1.1997

Today's range 1.2072-1.2104 EBS. 55-DMA is 1.2152 and 100-DMA is 1.1996

Downward shift will naturally concern the big number of traders sitting long

Ranges inside 1.2000-1.2100 likely. Beware a close below daily cloud

Daily Ichimoku cloud base 1.1975, 2021 low 1.1952

Targets for deeper correction at 1.1887/1.1778, 61.8/76.4% Nov-Jan rise