EURUSD currency pair continues to fall after the recent breakout of the support area lying between the support level 1.19600 (former monthly low from the start of February, as can be seen from the daily EURUSD chart below), 50% Fibonacci correction of the upward impulse from November and the support trendline of the wide up channel from last June. The breakout of this support area accelerated the active ABC correction 2. Given the continued dollar bullishness seen across the FX markets seen today – EURUSD currency pair can be expected to fall further toward the next support level 1.18000 (target price for the completion of the active ABC correction 2).
