The Euro has posted a 100-pip spike higher during the European session, bouncing up from 1.4200 low after better than expected German Business Climate data, to be rejected at 1.4300, and retreat all the way down to fresh day lows at 1.4190. The Euro is pushing against 1.4200 (day low), with next potential support levels below here, at 1.4125 (Jun 17/23 lows) and 1.4070 (Jun 16 low). On the upside, resistance levels are 1.4305 (day high), and above here, 1.4345/50 (Jun 22 lows) and 1.4435/40 (Jun 21/22 highs).
Technical indicators show the pair losing momentum, aiming to revisit 1.4130 area: "Euro neck that loses momentum quickly towards 1.4200. Having been capped by 20 SMA in the 4 hours chart, and with indicators below their midlines, bearish short term trend persist as long as below 1.4220 area, heading towards the 1.4130 area, yesterday's low."
