EURUSD currency pair recently reversed down from the resistance area lying between the pivotal resistance level 1.13000 (former support from the middle of November, as can be seen from the daily EURUSD chart below), intersecting with the 38.2% Fibonacci correction of the downward price impulse from the start of November. Given the rising bearish euro sentiment seen across the FX markets today and the clear downtrend than can be seen on the daily charts, EURUSD can be expected to fall further toward the next support level 1.12000 (low of the previous short-term impulse wave (i)).