The EURUSD pair opened on a positive note today, aiming to challenge the key resistance level at $1.0760. This resistance has proven robust against recent bullish attempts, accompanied by a noticeable loss in stochastic momentum. These factors suggest a potential bearish rebound, reinforcing expectations of a resumption in the intraday bearish trend. Initial downside targets include $1.0675, followed by $1.0600.
Market analysts advise maintaining a bearish outlook in the near term, contingent on the price failing to breach and sustain above the $1.0760 resistance level.
Projected Trading Range
Support: $1.0670
Resistance: $1.0800