The daily chart highlights the recent weakness in the pair with a couple of double low prints made in lateAugust and earlier this week. Below here we go back to levels last seen in November 2020. For the pair to fully break down, the November 4 low at 1.1604 needs to be broken to continue the pattern of lower highs and lower lows. The pair also trade below all three simple moving averages, a negative technical set-up.
However am looking for some short-term bull run on EURUSD back into 1.1773 area if price break above possible 1.1894 can be our next level of resistance before any move lower