* US TSY 20Y BOND AUCTION: HIGH YLD 4.664%; ALLOT 15.91% * US TSY 20Y BOND AUCTION: DEALERS TAKE 17....
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A bearish theme in EURUSD remains intact and short-term gains are considered corrective. Last week’s move lower strengthens the bear theme and maintains the price sequence of lower lows and lower highs. Attention is on 1.1598 (pierced), the 61.8% retracement of the Nov 5 - Dec 12 bull leg. A resumption of weakness and a clear break of this level would open 1.1549, the 76.4% retracement. Initial resistance to watch is 1.1675, the 20-day EMA.