EUR/USD technical analysis, the pair rejected the weekly and the daily 50 EMA and the 0.386 FIB retracement, resuming the bearish run. Further decline is in favor, toward first the low at 1.1704 and second toward the 1.618 FIB extension at 1.1600. The resistance zone between 1.1780-1.1810, should be watched for rejection and selling opportunities. Within this resistance zone, we have 0.386 FIB retracement and 0.618 FIB retracement.
If the EUR/USD pair breaks above the last week’s high at 1.1908, it will invalidate the bearish outlook and send the price higher toward first the high at 1.1975 and second the 0.618 FIB retracement at 1.2000.