Yesterday, we saw some profit booking in EUR/USD and today, selling has started. We think that for the rest of the day, bears will be calling the shots. On 4-H chart, the pair is trading with slight bullish momentum which we expect to not last very long. For the day, the pair has four targets at 1.16719, 1.16633, 1.16537 and 1.16381 level.
Moreover, MACD indicator is in support of the bearish move with MACD line below the signal line, which depicts selling pressure.
On the upfront, the pair might face first resistance at 1.16833 level. A break above this level, next resistance will come at 1.17076 level and then at 1.17189 level.