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Technical Analysis: 8-day-old trend-line limits EURUSD's bounces off 61.8% Fibonacci

The EURUSD pair recently bounced off an eight-week low, near to 68.1% Fibonacci Retracement of its September-December upside. However, it still trades below short-term resistance-line, at 1.1065, until then buyers will not welcome the quote. Should there be an upside beyond the immediate falling trend line, 21-day EMA near 1.1090 and last week's top close to 1.1120 could gain the bulls' attention.

With this, sellers can keep their short positions targeting 1.0980 and 1.0940 during the fresh downside below Monday's low of 1.1000. In a case where the quote slips below 1.0940, October bottom around 1.0880 will return to the chart.

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