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Technical analysis for the EUR/USD, the pair bounced from the 2017 low at 1.0340 and started a pullback. The first target for this pullback, the 0.382 FIB retracement on the daily chart at 1.0575, was reached. The second target for the pullback in EUR/USD is the 0.382 FIB retracement on the weekly chart at 1.0675, just above the daily high at 1.0641. The third target is the 0.618 FIB retracement on the daily chart at 1.0715. The fourth target is the 0.618 FIB retracement on the weekly chart at 1.0875.
On the other hand, if the price of EUR/USD breaks below the low at 1.0460, it will send the price lower toward the previous low at 1.0349. If the EUR/USD breaks below the 2017 low at 1.0340, that will open the door for a bearish run toward the fourth target of the bearish wave on the weekly chart, the 2.618 FIB extension at 1.0110.
Daily chart:
Weekly chart:
