EUR/USD bear bias for 1.3720/05 and key 1.3672 support targets.
A low level, narrow Monday digestion of the aggressive bearish outside Thursday pattern from a new recovery peak from psychological/ option-related resistance at 1.4000, and Friday surrender of the late April low at 1.3775.
The break here completed a small top and leaves the near term outlook this week bearish.
We see risk to key trend line/ neck line supports 1.3720/05, and maybe even critical chart props at 1.3672/45.
Below the latter would signal a still more bearish shift for the 1.3520 retrace target.
What changes this?
Above 1.3840/45 eases bear risks; through 1.3905 signals a neutral tone, only shifting positive above 1.4000.
