A break below support at 134.98 has just added more confidence in a call for a continuation lower towards 132.23 and even lower to 131.45 before the extended correction from 141.06 is over.
In the short term, the broken support at 134.98 will act as resistance, but even stronger short-term resistance is found just above 135.47.
We are short EUR from 136.62 moving our stop lower to 136.20. If you are not short EUR yet, sell near 135.47 and use the same stop at 136.20.
The material has been provided by InstaForex Company – www.instaforex.com