EURUSD Fakes Out

The Euro-Dollar plummeted on Friday after breaking a resistance level and trend line at 1.21600. The earlier breakout attracted more buyers. However, the price slipped below the support level of 1.2100 which brought in sellers into the market.

The EURUSD pair will continue to be bearish below the key support levels found at 1.20800 and 1.20600.

The pair may rebound as it approaches the key support level of 1.20000.