The EURUSD continues to fluactuate below 1.0700-1.0710, which is the short term key resistance for the pair. The downside bias remains favored as long as below the latter. Where the next potential support resides at the confluence of the 50-days simple moving average and horizontal support zone among 1.0610-1.0588.
Short term scenarios:
Bearish towards 1.0620, as long as below 1.720.
In case we reach 1.0620-1.0590 area, we expect an upside rebound targeting 1.0700.
Short term key support and resistance
1.0660 1.0620 1.0580
1.0710 1.0770 1.0810
Short term scenarios:
Bearish towards 1.0620, as long as below 1.720.
In case we reach 1.0620-1.0590 area, we expect an upside rebound targeting 1.0700.
Short term key support and resistance
1.0660 1.0620 1.0580
1.0710 1.0770 1.0810
