Good day forex traders.
Welcome to another forecast for the EUR/USD. Recently we noted mainly bearish sentiments for the currency pair in view of the fundamental situation. Economic releases did little if any uplifting of the situation.
Looking at the EUR/USD 4 hourly chart above we note that the 1.27 line held as a support for now. With the fundamental situation pretty much the same for now, there is no reason to exclude the possibility of a retest of the support line.
There were strikes across the European Union today against austerity measures. Such actions will no doubt harm the already fragile economy and sentiments.