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The EUR/USD currency pair has confirmed a break below the support line of its bullish channel, signaling a shift towards a bearish correction. Following a close beneath this support yesterday, the pair is poised to correct downward from the recent rise between $1.0665 and $1.0947. A key level to watch is $1.0880; a break below this could drive the price toward subsequent support levels at $1.0840 and $1.0775.
Today’s forecast suggests a bearish outlook, although a move above $1.0920 could counteract the current negative momentum and potentially push the pair back towards its previous bullish trajectory.
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The anticipated trading range for today is between $1.0800 on the downside and $1.0960 on the upside.
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