The 17 nation currency dropped against the U.S dollar as yesterday trades saw breaking
the support level 1.4342 which represents 76.4% of Fibonacci's correction level for the
bullish move (from 1.4157 to 1.4940) to register the lowest price of these trades at the level
1.4255, a bottom has been formed at this level and pushed the pair to re-test the nearest
resistance level, one of them is the level 1.4375 which pushed the pair again targeting the
support level 1.4255, more declining is expected for the pair targeting the level 1.4157 but
under the condition of breaking the support level 1.4255.
The stability of these expectations requires the stability of the resistance level 1.4375
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