The EURUSD pair fell under strong negative pressure yesterday to settle near 1.1866 level that represents 50% Fibonacci correction level for the rise measured from 1.1662 to 1.2069, and we expect the continuation of the bearish bias to test 1.1817 in the upcoming sessions, as the price falls under the negative pressure formed by the EMA50 now.
Therefore, we expect witnessing more negative trading today unless breaching 1.1915 level and holding above it, as breaching this level will push the price to resume its main bullish track again, while breaking 1.1817 represents the key to extend the pair's losses to reach 1.1758 followed by 1.1662 levels on the near term basis.
Expected trading range for today is between 1.1800 support and 1.1970 resistance.
Expected trend for today: Bearish