The EURUSD pair encountered significant resistance around the 1.0915$ mark today, signaling a modest bearish sentiment as it potentially heads towards testing the support line of its bullish channel depicted on the chart. Notably, stochastic indicators are showing clear positive momentum, reinforcing the likelihood of a bullish bounce and a continuation of the upward trend.
The prevailing bullish trend remains robust and active in the near term, bolstered by the EMA50 indicator, with a projected target set at 1.1000$. It is important to watch for a break below key support levels at 1.0865$ and 1.0840$, which could interrupt the anticipated ascent and prompt a reversal towards lower levels.
Today’s anticipated trading range is expected to fluctuate between support at 1.0820$ and resistance at 1.0980$, highlighting the critical levels to monitor amid ongoing market dynamics.
