FX Techs

At a glance: Game change

EUR/USD seems to be one step ahead in this context as key-support at 1.2775/70 (int. 38.2 %/C=A) is decisively broken so that the odds are clearly in favor of a deeper setback to 1.2542 (Fib.-projection) and to 1.2309 (int. 76.4 %) now, whereas recoveries would have to clear 1.2816 (minor 38.2 %) to start weakening the prevailing bear-trend.

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J.P.Morgan