EURUSD will weaken further. The reason for this is further strengthening of the dollar. News from the FOMC suggests further decline in the currency pair
TA on the high timeframe:
1) The market is testing the support at 1.0635
2) The third retest is formed after 4 days - high chance of further support breakout
TA on the low timeframe:
1) The descending price channel continues to form
2) False breakout this morning may give a small correction to 1.06750 before further support breakout
3) EUR support at 1.06350 could break quite quickly amid a weak market. A sell signal would be price consolidation below the level
Key resistance 📈: 1.0675, 1.0707
Key support 📉: 1.0635
TA on the high timeframe:
1) The market is testing the support at 1.0635
2) The third retest is formed after 4 days - high chance of further support breakout
TA on the low timeframe:
1) The descending price channel continues to form
2) False breakout this morning may give a small correction to 1.06750 before further support breakout
3) EUR support at 1.06350 could break quite quickly amid a weak market. A sell signal would be price consolidation below the level
Key resistance 📈: 1.0675, 1.0707
Key support 📉: 1.0635
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