1.29 resistance: The EUR/USD rallied from just below 1.28 up to 1.29 by the 5/21 Asian session. After several failed attempts it fell and tested the “central pivot area”  1.2840-1.2850. Although the market has stalled, it remains bearish. A break above 1.2940 might be needed to establish a bottom an neutralize the bearish outlook. If the 1H RSI falls back below 40 and price below 1.2840, we could refocus to the lows around 1.28 and subsequently the 2013 low at 1.2744. A negative reversal is a bearish signal given by a lower price high that corresponds to a higher RSI high after the RSI has gotten below 30 to ... (full story)