We have seen the expected break below support at 124.20 indicating more downside pressure towards 123.37 and 122. 62 on the way towards the 120.95 where a bottom is expected.
Short-term resistance is seen at 124.42 with back-up resistance at 124.74. On a break above the later, will ease the immediate downside pressure and call for a move closer to 125.27 before lower again.
We are short EUR from 124.25 with our stop placed at 126.20.The material has been provided by InstaForex Company - www.instaforex.com