The EUR/USD currency pair is currently displaying a bullish bias, with potential to test the initial key resistance level at $1.1100, influenced by positive stochastic indicators. However, a bearish correction is anticipated, targeting an initial level of $1.1040. A breach of this support could lead the price towards the next target of $1.0990.
The continuation of the bearish trend hinges on the price remaining below the $1.1100 and $1.1125 levels. A break above these levels would shift the trend back to a bullish trajectory, with potential gains beginning to test the $1.1200 area.
The expected trading range for today is between support at $1.0990 and resistance at $1.1145.
Trend Forecast: Bearish
Related topics: