EURUSD breaches the resistance – Analysis - 06-03-2017

The EURUSD pair rebound to the upside clearly after it found difficulty to confirm breaking 1.0500, where the price rallied to breach 1.0581 level and settles above it, which stops the negative pressure that controlled on the last trading and pushes the price to return to the bullish correctional track, where the next target located at 1.0731.

Therefore, the bullish trend will remain preferred in the upcoming sessions, and it might be preceded by temporary fluctuation affected by the current negativity of stochastic, while the suggested rise will remain valid unless breaking 1.0581 level and holding below it.

Expected trading range for today is between 1.0500 support and 1.0731 resistance.

Expected trend for today: Bullish