The EUR/USD price is currently consolidating below the pivot line at 1.0680, showing bearish momentum. If this bearish trend continues, the next movement is likely to test support levels below.
Scenarios: Bearish Scenario: If the price continues to trade below the pivot line (1.0680) and breaks below the immediate support at 1.0616, it may reach down to the next support at 1.0544. A close below 1.0616 would strengthen this bearish outlook.
Bullish Scenario: For a bullish reversal, the price needs to reclaim and stabilize above the resistance line at 1.0739. This move would suggest a shift towards higher targets, potentially testing 1.0861.