💱EURUSD - A retest of support will lead to a breakout

٢١ سبتمبر ٢٠٢٣

EURUSD will weaken further. The reason for this is further strengthening of the dollar. News from the FOMC suggests further decline in the currency pair

TA on the high timeframe:
1) The market is testing the support at 1.0635
2) The third retest is formed after 4 days - high chance of further support breakout

TA on the low timeframe:
1) The descending price channel continues to form
2) False breakout this morning may give a small correction to 1.06750 before further support breakout
3) EUR support at 1.06350 could break quite quickly amid a weak market. A sell signal would be price consolidation below the level

Key resistance 📈: 1.0675, 1.0707
Key support 📉: 1.0635