The EUR/USD currency pair is currently experiencing downward pressure, with a test of the pivotal support level at 1.0880 imminent. This support level, alongside the resistance at 1.0955, holds significance as it plays a crucial role in determining the pair’s future trend direction. As highlighted in our earlier report, the price must decisively breach one of these levels to provide clarity regarding its next trajectory. Consequently, we maintain a neutral stance at this juncture.
The presence of conflicting signals from technical indicators further bolsters our neutral outlook. For a comprehensive analysis of anticipated targets following a potential breach, please refer to our morning report.
The expected trading range for today is expected to span between the support at 1.0830 and resistance at 1.1010.
The prevailing sentiment for today remains neutral, as we await further market developments to provide clearer direction.
