EURUSD reached support at 1.1160 strengthened by Fibonacci 61,8%

Since last Thursday EURUSD is sliding down without any hints on the next movement. Declines are very small relative to some previous movements. Today price reached very interesting level, which has a chance to prepare field for a rebound. Mentioned level is 1.1160, it is support strengthened by Fibonacci 61,8% of previous upward movement (it was just after FED’s meeting).

However if rebound occurs nearest resistance will be at 1.1200. Next resistances are located at 1.1260, 1.1330 (last week’s high). Alternatively if supply breaks indicated level nearest supports will be located at 1.1110 and much stronger at 1.1070.

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Time-frame H1