On yesterday session, the EURUSD dropped with a wide range and closed near the low of the day, in addition managed to close below Friday’s low, which suggests a strong bearish momentum.
The currency pair closed below the 10-day moving average that should now act as a dynamic resistance however is trading above the 50 and 200-day moving averages that should provide dynamic support.
The key levels to watch: a daily resistance at 1.2115, other daily resistance at 1.2041, a Fibonacci retracement at 1.1995, the 10-day moving average at 1.2006 (resistance), a Fibonacci retracement at 1.1942 and other Fibonacci retracement at 1.1899.