EUR/USD fell after hitting the resistance at 1.0760, and is likely to head towards the support of the ascending channel in the coming sessions. This bearish bias is based on the rules of trading within price channels.
Therefore, we expect to see further declines in the short term, but only if the price remains below the resistance zone at 1.0686-1.0700. Our target levels are 1.0664 and then 1.0632. However, if the price breaks and stays above 1.0700, this will stop the expected decline and lead to a further upward correction.
Therefore, we expect to see further declines in the short term, but only if the price remains below the resistance zone at 1.0686-1.0700. Our target levels are 1.0664 and then 1.0632. However, if the price breaks and stays above 1.0700, this will stop the expected decline and lead to a further upward correction.