Technical outlook:
EURUSD had reversed exactly from 1.1900 handle as expected yesterday, dropping more than 125 pips, before pulling back higher again. The single currency is seen to be trading around 1.1909 versus USD at this point in time after hitting intraday highs around 1.1920 today. It has tested the fibonacci 0.786 retracement of the drop between 1.1965 and 1.1754 levels today. The corrective rally might be more complex than expected but bearish structure prevails until 1.1965 holds. A break below 1.1754 would accelerate lower towards 1.1200 levels. Immediate resistance is around 1.1965, while support is seen towards 1.1754 levels respectively.
Trading plan:
Remain short, stop @ 1.1990, target is open.
Good luck!