Technical Forecast for EUR/USD
EURUSD has initial resistance at 1.3077 today which could hold a bounce, but above here we could see 1.3145 which should hold the topside. If we push through 1.3165 however, we look for a good selling opportunity at 1.3199 with a stop needed above 1.3225.
This pair are severely over sold on the daily chart so there is always the risk of a sharp bounce but there is no other sign of a bottom. Last week’s low at 1.2967 offers support but a break could target 1.2890/80 before finding support in this down trend. However below here we should test the 200 day MA at 1.2846.
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