EUR/USD: Awaiting Support for the Next Rally
EUR/USD is currently trading with a mild corrective bias around the 1.0817 level after facing strong resistance near 1.0870. From a technical standpoint, I anticipate the pair might extend its pullback towards the immediate support zones between 1.0808 and 1.0781 before regaining bullish momentum.
The preferred scenario at this stage is for EUR/USD to consolidate strength at the mentioned support areas, followed by a robust bounce upwards, targeting the resistance area at 1.0870 and potentially beyond.
In the short term, I advise traders to closely monitor price reactions around these critical support levels to make informed trading decisions. Wishing you a profitable trading day!
The preferred scenario at this stage is for EUR/USD to consolidate strength at the mentioned support areas, followed by a robust bounce upwards, targeting the resistance area at 1.0870 and potentially beyond.
In the short term, I advise traders to closely monitor price reactions around these critical support levels to make informed trading decisions. Wishing you a profitable trading day!
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