EURUSD tests the support – Analysis - 12-12-2016

The EURUSD pair traded with clear negativity in last Friday, to reach the sideways range support that appears in the above chart at 1.0519, showing bullish rebound signals now that signals that the way in its way to visit the resistance of this range that located at 1.0685, supported by stochastic positivity.

In general, the sideways bias will remain the dominant on the intraday trading until it manage to breach one of the above mentioned levels, reminding you that breaking 1.0519 level will push the price to suffer more of the losses that its next target reach to 1.0326, while breaching 1.0685 represents the first key for the recovery trip that its main targets begin at 1.0778 and extend to 1.0938.

Expected trading range for today is between 1.0430 support and 1.0685 resistance.

Expected trend for today: Sideways