EUR/USD: Euro approaches critical support at 1.09345

The Euro attempted to change direction from a descending trend against the strong U.S. dollar failed at around 1.10860 at the beginning of last week's session and continued to the end of the week closing at 1.09438.

My short sell direction for this pair is still intact; however, I'll be watching closely at the support level at around 1.09345 for any indication of a change in direction. Euro could continue down to 1.08950 if it fails to hold at 1.09345. The resistance levels are estimated at 1.09626, 1.09835, 1.10105, 1.10310, and 1.10620.