EURUSD fell in the intraday levels as traders took profits of the pair's previous short-term rises and as the pair tries to garner positive momentum that'd help it rise again, with ongoing positive pressure from the SMA for the last 50 days period, with the pair settling above the support of 1.1105, representing the ratio 50% of Fibonacci retracement levels for a descending wave in the short term (from 1.1713 to 1.0500).

Therefore we expect the pair to reverse higher, as long as it trades above 1.1105, targeting the resistance of 1.1250, representing the ratio 61.8% of the same retracement levels mentioned earlier.

Trend Bullish