EURUSD breaks the support – Analysis - 15-02-2017

The EURUSD pair traded with clear negativity yesterday to break the critical support level at 1.0581 and settled with a daily close below it, which stops the suggested positive scenario in our yesterday’s reports and puts the price under more of the negative pressure on the short term basis, easing the way towards heading to the recorded bottom at 1.0339.

Therefore, the bearish bias will be preferred in the upcoming sessions, supported by the negative pressure that comes from the EMA50, pointing that breaching 1.0581 then 1.0615 levels will stop the current decline and leads the price to recover again.

Expected trading range for today is between 1.0470 support and 1.0650 resistance.

Expected trend for today: Bearish