Lucky 7s for EUR/USD shorts

Technical Analysis

Author: Adam Button | eurusd

EUR/USD makes an intraday double top

A great day for the euro has turned into a mediocre one that threatens to fall flat.

EUR/USD topped at 1.0777 in Europe and then matched that level again shortly before the London close. The double failure to break higher created an intraday top that's been confirmed by the fall below the US low of 1.0740.

The measured target of the double top takes the pair back near 1.0700.