Not much change here: the pair is still, on balance, in a short-term down-trend, despite Monday's recovery rally making higher highs.
With the new month the monthly pivot points have shifted higher, resulting in the Monthly Pivot repositioning at 1.1154. This is also the current trading level of the exchange rate, which has been pushing up against the pivot, which has been exerting resistance.
This may be the final 'kiss goodbye' before the pair moves lower and so provides a useful potential low risk entry point for a short trade.
Alternatively, for stronger confirmation I would want to see a break below the support and resistance line at 1.1047, leading to a move down to a target at the 1.0954 lows. 
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EUR/USD: Below Monthly Pivot And Pushing Lower
Published 07/01/2015, 06:00 AM
Updated 07/07/2019, 08:10 AM
EUR/USD: Below Monthly Pivot And Pushing Lower
Forex4you
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