The EURUSD pair has maintained its position above the EMA50 and is currently poised to rely on this support as it resumes the anticipated bullish trend on the intraday horizon. The primary objective of this trend is to test the resistance level of the bearish channel, situated around 1.0655.
Consequently, our optimistic outlook for the coming period remains unchanged, contingent on the price’s ability to gather the necessary positive momentum to sustain the upward movement and reach the specified target. It is worth noting that surpassing this level may prompt the price to initiate a bullish correction over the long term. However, the bullish trend’s validity is contingent on the price’s stability above 1.0515.
The expected trading range for today is between support at 1.0460 and resistance at 1.0630. The prevailing trend is anticipated to be bullish, given the current conditions and technical indicators.