The EURUSD pair remains in a state of flux, oscillating between the crucial levels at 1.0550 (support) and 1.0640 (resistance). This ongoing pattern maintains our neutral stance as we await a clear confirmation by breaching either of these levels, allowing us to determine the likely direction.
It’s important to note that a breakout above the resistance level could trigger a bullish correction, with targets in the vicinity of 1.0760 in the short term. Conversely, a breakdown of the support level may lead to a return to the primary bearish trajectory, with potential downside targets commencing at 1.0450.
The expected trading range for today is projected to fall between the support at 1.0480 and resistance at 1.0665. As of now, the prevailing trend for the day appears to be neutral.