EURUSD Analysis: Key Support and Resistance Levels to Watch
The EURUSD pair is currently testing the 1.0789 support level once again. A breakdown below this level would suggest that the upside move from 1.0694 has concluded at 1.0887. In such a scenario, the next target levels would be at 1.0750, followed by 1.0694.
However, if the 1.0789 support level holds, the pullback from 1.0887 could potentially be a consolidation phase for the uptrend from 1.0694. In this case, another rise towards the 1.0950 level is still possible after the consolidation.
The initial resistance level is at 1.0840. A breakthrough of this level could potentially take the price to the next resistance level at 1.0887. Above this level, the price could aim for 1.0950.