EUR/USD Today

EUR/USD's selloff reached its channel bottom at 1.3540 and some near-term consolidation should now be allowed for says Trader. However, while the spot remains capped by double Fibonacci resistance at 1.3950-60 she says an immediate downside bias will remain with a target of 1.3405. For a strategy trader favors shorts from 1.3725, adding at 1.3805 with a stop at 1.3860, taking profit between 1.3580-60. EUR/USD now at 1.3722.