The Euro has opened the week on a ne4gative tone, extending decline from last week highs at 1.4575, to levels below 1.4200reaching day lows at 1.4130 at European session opening, eroding uptrend resistance line from May lows, currently at 1.4155/60.
On the downside, below the mentioned 1.4155/60 (trendline support), the pair might find support at 1.4100 (Jun 26 low) and 1.4070 (Jun 16 low). On the upside, resistance levels are 1.4200/20 (Jul 7/8 lows), and above here, 1.4270 (intra-day level) and 1.4350/75 (20 and 50-day MA).
Breach of trendline support would open the path towards 1.4102 and 1.4073, on the way to key support at 1.3968, says Slobodan Drvenica, technical analyst at Windsor Brokers : “of short-term supports at 1.4102 and 1.4073, 27/ 16 June lows, ahead of possible attempt at key support at 1.3968, 23 May low.”