The EURUSD pair is currently testing the crucial resistance level at 1.0840$, with the outcome poised to signal the continuation of a bullish trend, potentially leading to further gains up to 1.0915$. Analysts are closely monitoring the market dynamics, emphasizing the significance of breaching this level to affirm sustained upward momentum in the near term.
However, the current stochastic indicators suggest a cautious stance, highlighting a temporary downside risk that could delay the breakthrough. Traders are advised to await positive momentum indicators that could propel the price higher on both intraday and short-term horizons.
Conversely, a breach below 1.0795$ would introduce bearish pressures, targeting initial support levels at 1.0720$ followed by 1.0675$. This downside scenario underscores the importance of monitoring key support levels amid ongoing market volatility.
For today’s trading session, analysts project a trading range between 1.0760$ support and 1.0920$ resistance, with market participants keenly observing developments for potential trading opportunities.
