EURUSD Rebound Risk for 1.3730/35
We stated in our recent client reports that “we look for any corrective setback to try to hold support at 1.3640” and Wednesday has seen a grind lower, but still to hold this level.
We see a neutral tone into today’s ECB meeting and US Employment data, but whilst holding above 1.3640 see upside risks from the break above the 1.3675 failure peak and key chart/ retrace resistance at 1.3690.
Upside risk is through 1.3730/35 chart tops for 1.3750 and 1.3770/75.
Overshoot risk is higher to 1.3805 and maybe 1.3890 retrace targets.
WHAT CHANGES THIS?
Below 1.3640 eases bull risks; through 1.3575 signals a neutral tone, only shifting negative below 1.3503.
4 Hour EURUSD Chart
Daily EURUSD Chart