EURUSD Chart Technical Outlook trades lower cautiously toward 1.0768 amid holidays
EUR/USD’s recent bias is bearish. For the past three weeks, it has printed lower highs and lower lows. Recent hawkish comments from Fed Chair Powell and dovish comments from ECB officials are helping the bears. European markets are closed today, and subdued volatility is expected. US markets will open today, and the US ISM Manufacturing data will be watched closely.
I expect more downside price action. A break below the previous month’s low of 1.0768 opens the door for more losses toward this year’s low of 1.0695. Resistances are at 1.0830 and 1.0860.
