The EURUSD retests the broken support – Analysis - 07-10-2021
1 year ago

The EURUSD pair is retesting the previously broken support 1.1563 and keeps its stability below it, to keep the negative scenario valid for the upcoming period, supported by the EMA50 that pushes the price to the downside, reminding you that our next target is located at 1.1500.


Note that breaking the mentioned level will extend the bearish wave to reach 1.1420 as a next main station, while breaching 1.1563 will lead the price to start correctional bullish attempts that target testing 1.1670 areas initially.


The expected trading range for today is between 1.1460 support and 1.1620 resistance.


The expected trend for today: Bearish

Forex and Currency News

Forex Technical Analysis