The Euro may remain vulnerable to the US Dollar from a technical standpoint. That is because last week, EUR/USD continued to make downside progress after clearing under a Bearish Rising Wedge chart formation. Immediate support is the 23.6% Fibonacci retracement level at 1.068, which was reinforced over the past 24 hours as prices were unable to clear this floor. Further upside progress, especially through the 1.0713 – 1.0787 inflection zone, would place the focus on the floor of the wedge. Otherwise, extending losses exposes the 38.2% level at 1.0461.
