The EUR/USD has reached the 61.8% Fibonacci on the daily chart.

The Euro holds on to its gains versus the dollar at the 61.8% Fibonacci Retracement level of the drop from March 13^th to April 4^th. After reaching and bouncing from the 1.3700 level, the pair has been steadily moving up until now when it has reached the 61.8% as shown on the daily chart below, courtesy of the Forex Broker Activtrades http://www.activtrades.co.uk/, around the 1.3853 level.

From this point on we may see a bounce to the downside, but there is a higher and better probability of a bounce to the downside from the 1.3900 level, being this a round number and a psychological zone. Besides, we also have the 76.4% Fibo around the same zone which can act as a good resistance level. Therefore, a short position at the 1.3900 level has a higher probability of working than at the current levels of the EUR/USD.