Technical Outlook EURUSD 03.04.2017

Technical Outlook EURUSD 03.04.2017

EURUSD

The Euro is consolidating above fresh two-week low at 1.0650, hit last Friday in extension of steep bear-leg from 1.0905 peak.
Support at 1.0650 marks Fibo 61.8% of 1.0493/1.0905 rally, close below which would generate bearish signal for test of next strong support at 1.0622 (top of daily Ichimoku cloud / 100SMA).
Consolidation is so far holding under previous key support at 1.0700 (daily Kijun-sen / base of thick hourly cloud), which is expected to ideally cap upside attempts, before bears resume.
Clear break below 1.0650/22 would triggers further bearish acceleration below 1.0600 trough which may attract key short-term support at 1.0500 zone.
Strong near-term bears may be delayed on sustained break above 1.0700 barrier that would signal extended correction.

Res: 1.0680; 1.0700; 1.0748; 1.0777
Sup: 1.0650; 1.0622; 1.0600; 1.0583