Technical forecast for EUR/USD

EURUSD failed at resistance of 1.2955/65 as we test 1.2850/40 but we look likely to continue lower for a test of 1.2800/775 May lows & 6 month trend line support. We are oversold in the short term so a low for the day is possible but any longs need stops below this year’s low of 1.2745. We then look for the next target of 1.2662.

Resistance at 1.2902 then 1.2965/75 should hold the topside for a selling opportunity.