We are bearish as long as the EURUSD is below 1.5643.
As mentioned last week, 1.5230 is where the decline from 1.5694 would equal the 1.6018-1.5554 decline. This is our initial objective. Very near term, the decline this morning inspires confidence in the larger bearish bias. Resistance is near 1.5440.
STRATEGY: Bearish, against 1.5643, target below 1.5230 and below 1.50
