EURUSD Chart Technical Outlook US dollar correlation suggests limited downside
EUR/USD – there are two scenarios for the major currency pair. Both highlight limited selling pressure:
- the four-hour chart highlights the pair building a Bat formation. That would suggest we are currently moving lower within the BC leg. Bespoke support is located at 1.0728.
- the one-hour chart highlights the projected AB leg of a Bat formation located at 1.0723. This would suggest that the next move to the upside is limited within the BC leg.
*Resistance: 1.0777 (bespoke), 1.0791 (bespoke), 1.0938 (Bat) *
Support: 1.0728 (bespoke), 1.0723 (projected AB), 1.0601 (swing low)
