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A rejection from 1.1448 still valid

A rejection from 1.1448 still valid | 05 Julho 2017

05 Julho 2017, EUR/USD

Technical Observation

Eur is currently trading slightly above it's weekly pivot line, 1.1347 but below a key resistance line 1.1448. Unless this resistance line is not breached to the upper side with a big green candle, I'm waiting for a clear rejection signal from 1.1448 to short Eur towards 1.0443. A breakout above 1.1448 will mean waiting for a pullback to the just broken line to re-buy Eur towards 1.2766. On the weekly chart above, I still expect further decline towards 1.1270 and even lower to 1.0443.
Technical levels:
Resistance levels
R1: 1.1523
R2: 1.1621
R3: 1.1895
Pivot
1.1347
Support Levels
S1: 1.0799
S2: 1.1073
S3: 1.1249
Trade Signal
Eur Could be short towards 1.0443.

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