EUR/USD Price Analysis: Bears eye an extension but bulls look to test the 1.0880s EURUSD Technical Analysis
The bulls need to get above the 1.080s and trendline resistance. is attempting to correct the heavy selling that has taken place over the course of several days. EUR/USD is currently trading at 1.0766 and is down some 0.66%, traveling between a low of 1.0762 and 1.0848 the high.
The Euro has been pressured by a firmer US Dollar that again enjoyed another round of solid economic data amid market optimism about a US debt ceiling deal to avert a potential default. Technically, however, the offer in EUR/USD is decelerating as the following charts will illustrate, raising prospects of a correction. With that being said, the bulls have their work cut out:EUR/USD remains heavily offered and has broken the 1.0780s prior support.
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