EUR USD returns to test the resistance – Analysis - 07/10/2015

The EURUSD pair provided positive trading yesterday evening to make a new test to 1.1280 level, accompanied by the overbought signals that come from stochastic, which supports the strength of the mentioned resistance and keeps the chances valid for resuming the bearish trend in the upcoming period, waiting for breaking 1.1180 level to ease targeting 1.1060 then 1.0860 levels.

We remind you that breaching 1.1280 level and holding above it will open the way towards the attempts of regaining the bullish trend on the short term basis, the positive targets begin at 1.1505 and extend to 1.1705. 

Expected trading range for today is between 1.1100 support and 1.1380 resistance.

Expected trend for today: Bearish