The EUR/USD pair commences today’s trading with pronounced negative momentum, breaking the intraday bullish trend line and aiming for a decline on an intraday basis. The initial target is to test the 1.0745 level, with a need to closely observe the price upon reaching this level. Should the pair break this level, the bearish wave could extend towards the 1.0630 area as the next primary station.
As a result, a bearish inclination is predicted for today, bolstered by the pair currently trading below the EMA50. However, it is important to note that a breach of the 1.0870 level would halt the negative scenario, prompting the price to resume its primary bullish trajectory.
Today’s expected trading range lies between 1.0730 support and 1.0875 resistance.
