The EURUSD pair is currently hovering near the critical support level of 1.0635, and our outlook remains focused on a potential breach of this level. A successful break here would confirm the continuation of the bearish trend, with our next target situated at 1.0515.
Stochastic indicators are providing negative signals, reinforcing the likelihood of the anticipated breakdown. Additionally, the presence of the EMA50 is exerting bearish pressure on the price. However, it’s essential to remain alert to the possibility of a reversal if the 1.0680 level is breached, which could lead to recovery attempts targeting the 1.0785 area before any renewed bearish movement.
For today’s trading, the expected range is bordered by support at 1.0560 and resistance at 1.0700.
In summary, the EURUSD pair is in anticipation of a crucial break below 1.0635 to confirm the continuation of its bearish trajectory.