EURUSD: Trading range, Support=0.995, Resistances= 1.002 & 1.011
EURUSD has found a short-term support at 0.995 and as long as this level holds, the ongoing trading range between 1.01 and 0.995 would continue for the balance of this month.
If EURUSD rate reaches up to 1.02 once again, it would signal that bearish bias has weakened. If such scenario happens, rate would be supporting around 1.00 and bias would turn toward 1.03/1.05 range.
Ongoing trading range is likely to end if price breaches down 0.995 or touches off 1.02 mark.
Scenario 1: Bearish bias from 1.002 to 0.995
Scenario 2: Bearish bias from 1.011 to 0.995
If EURUSD rate reaches up to 1.02 once again, it would signal that bearish bias has weakened. If such scenario happens, rate would be supporting around 1.00 and bias would turn toward 1.03/1.05 range.
Ongoing trading range is likely to end if price breaches down 0.995 or touches off 1.02 mark.
Scenario 1: Bearish bias from 1.002 to 0.995
Scenario 2: Bearish bias from 1.011 to 0.995