EURUSD back to major resistance, remain bearish

EURUSD is back to test our major resistance at 1.2363 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance, bearish divergence) and a strong reaction could occur at this level to push price down to 1.2165 support (Fibonacci extension, horizontal swing low support).

Stochastic (34,5,3) is reacting really nicely off our major resistance at 95% and has good downside potential for our drop.

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