The EUR/USD price has confirmed a break below the bullish channel’s support line, closing yesterday under this level. This move indicates a bearish correction for the rise from $1.0665 to $1.0947. A further decline is expected, with breaking below $1.0880 potentially pushing the price towards $1.0840 and then $1.0775.
Therefore, a bearish bias is suggested for today. However, breaching the $1.0920 level could halt the current negative pressure and initiate a return to the main bullish trend.
The expected trading range for today is between the support level of $1.0800 and the resistance level of $1.0960.
Trend Forecast: Bearish
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