After a nice rally from the 1,31 level, the major has found some strong resistance by the 1,42 handle where it stalled out.
A break below 1,36 would expose further weakness towards 1,34 and probably lower. It would confirm the weekly engulfing pattern.
A break above 1,42 is now required to alleviate the downside pressure and allow a further development towards 1,45/1,47.
Provided by atf-forex-trading.com