EUR/USD: The pair was last month refused extension below a medium-term important bearish trigger at 1.2661 and instead added a net bullish print. The Feb mid-body point at 1.3320 works as both short-term attraction and resistance and it could be tested before steering lower again – then with the key bearish trigger still at 1.2661. Given the suggested wave count, this level is thought to in due time give way and confirm conditions for an extended decline below a minimum target at 1.2042. Theoretical targets are located as low as in the 1.12-1.07 area.
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