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The EURUSD currency pair is currently stabilizing around the 1.0880 mark, where it encounters robust support. However, the stochastic indicator is showing a decline in positive momentum, approaching overbought levels. This suggests a potential continuation of the corrective bearish trend, with the price likely targeting subsequent support levels at 1.0840 and 1.0806.
Given these conditions, our bearish outlook remains in place for the near term. A break above the 1.0925 level would negate the anticipated downward movement and potentially shift the price back to its primary bullish trajectory.
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For today, the anticipated trading range is between 1.0800 support and 1.0960 resistance.
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