EUR/USD currency pair analysis

The EURUSD pair completed the bearish movement and was able to exit the ascending channel within which it was moving. It reached the main support 1.0170, affected by the negativity of the stochastic indicator and the negative pressure of the moving averages on it.

If the price breaks the support level 1.0170, it will start a strong downward movement targeting the level of 1.0100 and then trying to reach the target 1.0000. As for the steadfastness of the support level, it will reactivate the bullish scenario and the price’s attempt to reach the level of 1.0250.

The expected trading range for today is between support 1.0100 and resistance 1.0250.

Support: 1.0170–1.0100–1.0050.

Resistance: 1.0200–1.0250–1.0340.

The forecast general trend for today: bearish.