The EUR/USD stays around resistance

The 1.1800 level continues acting as a good resistance on the EUR/USD as shown on the daily chart. The pair formed what it appears to be a head and shoulder pattern to break below the 1.1800 level and the 55 day EMA which coincides at the same zone. After the breakdown, the EUR/USD pulls back to the upside and finds resistance at the 1.1800 level. The pair may possibly bounce to the downside from the 1.1800 level, confirming the head and shoulders pattern. To the downside, the 1.1700 level may act as support, but the most relevant support zone is around the 1.1400 level where we can find the 200 day EMA. To the upside, any of the round number levels all the way to the 1.2100 level may act as resistance.