Today, the EURUSD pair opens with a bullish inclination, aiming to challenge the initial pivotal resistance level at $1.0840. This upward momentum is bolstered by positive stochastic indicators, further reinforced by the presence of the EMA50 at this resistance point, enhancing its significance. Analysts anticipate a potential return to the prevailing bearish trend in the near future, with downside targets identified at $1.0774 followed by $1.0735.
Conversely, market observers highlight the importance of breaching resistance levels at $1.0840 and subsequently $1.0880 to halt the current corrective bearish phase. Such a breakthrough could potentially steer the EURUSD back towards its primary bullish trajectory, with initial targets set at testing recent highs near $1.0947.
For today’s trading session, experts anticipate a trading range bound between support at $1.0740 and resistance at $1.0890, reflecting the ongoing market volatility and directional uncertainty.
