The Euro cracked psychological 1.20 support, after bears showed hesitation above this level in past two days and fell to two-month low in European trading on Thursday.
Stronger dollar and fading risk sentiment weigh on euro, adding to negative signals on completion of H&S pattern on daily chart, as well as break of pivotal technical supports at 1.2064/53.
Bears pressure immediate support at 1.1975 (50% retracement of 1.1602/1.2349 advance), with more significant 1.1956 level (daily cloud base / 100DMA) being also in focus.
Daily studies in bearish setup support the action, but oversold conditions suggest that bears may consolidate before resuming.
Broken neckline caps the action for the second day and keeps near-term bias with bears, with close below 1.20 level to add to negative signals.
Res: 1.2000, 1.2042, 1.2052, 1.2064.
Sup: 1.1975, 1.1956, 1.1922, 1.1887.
