EURUSD – Daily Forex Technicals by ForexHound.com June 23rd

After breaking above the 1.5585 level last week, the pair found strong resistance at the 61.8 Fibonacci retracement line of the 1.5840/1.53 down move; the bearish traders started putting pressure and dominating the market and managed to push the pair down once again towards 1.5550. After breaking above the 1.5585 level last week, the pair found strong resistance at the 61.8 Fibonacci retracement line of the 1.5840/1.53 down move; the bearish traders started putting pressure and dominating the market and managed to push the pair down once again towards 1.5550. If the current momentum continues we could see a test of the 1.5500 area before the days end, overall the pair is trading inside a range on almoust every timeframe.

[NP][/NP]