In the most recent trading session, the EURUSD pair exhibited a blend of market dynamics. The pair made an attempt to breach the 1.0515 level, only to subsequently retrace and settle above it once again. This price action suggests an inclination to resume the prevailing bullish sentiment, with an ultimate objective of testing the resistance of the bearish channel at approximately 1.0640.
With this in mind, the bullish trend remains a key focal point for the foreseeable future, with further support garnered by the pair’s positioning above the EMA50. It’s worth noting that a break below the 1.0540 level would potentially thwart the expected upward trajectory and introduce downside pressure.
For today’s trading, the expected range extends from the 1.0500 support level to the 1.0640 resistance level, accentuating the persisting bullish sentiment.
Today’s Trend Outlook: Bullish