The EURUSD has pulled back to previous lows in the daily view at 1.1124 when is within range of the 61.8 Fibonacci retracement of the recent bearish move in the daily view which is creating confluence of resistance in this zone. If price stays below 1.1124 we could see bearish continuation with the target being the lows at 1.08500. Also, note that the EURUSD is at upper Monthly M3 resistance at 1.1111 as seen in the attached chart which should add to the resistance in this zone.

EURUSD-DAILY

EURUSD-MONTHLY-PIV

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