EURUSD tests the support base – Technical Analysis – 06/05/2016

The EURUSD pair declined clearly to retest the previously breached bullish flag resistance, as the price is facing positive factors now, provided by the exponential moving averages 50 and 100 besides stochastic, but MACD offers negative signal that supports the chances of continuing the decline.

In general, we are waiting for more negative trading to head towards 1.1015 level, and breaking 1.1375 level will open the way to achieve our target.