EURUSD Chart Technical Outlook rallies should be capped by 1.0880
EUR/USD – moving lower within a bearish channel formation. We are currently assessed as correcting higher within the 4th wave of a bearish Elliott Wave count (5 Waves). Bespoke resistance is located at 1.0880. Bespoke support is located at 1.0805. With the previous swing low from Feb 29 located at 1.0796, this zone could be a formidable downside barrier.
Resistance: 1.0880 (bespoke), 1.0902 (previous support becomes resistance), 1.0981 (swing high)
Support: 1.0805 (bespoke), 1.0796 (Feb 29 base), 1.0775 (261.8%)
