The EUR/USD currency pair is encountering significant resistance at the $1.1200 level, resulting in a slight bearish bias. This movement is influenced by negative signals from the stochastic oscillator. The price is currently awaiting positive momentum to help it resume the anticipated bullish trend for today. A breach of the $1.1200 resistance would confirm a move towards the next target of $1.1300.
However, if the price fails to breach this level, it may face downward pressure, targeting the $1.1100 region.
The expected trading range for today is between support at $1.1130 and resistance at $1.1280.
Trend Forecast: Bullish
Related topics: