here on hold of hourly support line since we tested Fibonacci support (from start of year high) on 5th of Jan. Even with German govt
bonds breaking lower ( bund
breaking support level
since 2016) the hourly support line has so far held. Looking for a move higher to the next Fibonacci resistance level
(higher purple highlighted line).
Risk to downside is if growth fears continue (German looking set for recession in 2nd half of year) on EUR taking EURUSD
significantly lower again.
Zoom out to see fibonacci levels