The drop continues on the EURUSD

The EURUSD accelerates its bearish trend and falls to the 1.2100 level where it may find some support. None the less, the pair may continue falling to the 200 day EMA around the 1.2045 level, but a better support for the EURUSD may be the 1.2000 level. Below the 1.200 level, any of the round number levels all the way to the lows at the 1.1600 level may act as support. Let’s see if the EURUSD manages to break below its 200 day EMA or if it bounces to the upside from that moving average. In case of a bullish bounce, the EURUSD may find a good resistance around the 1.2300 level where we can find the 55 day EMA and the 200 month EMA, making that zone a very important resistance for the pair. Around the 200 day EMA we may also see that formation of a breakout-pullback pattern.