EURUSD Chart Technical Outlook completes the bearish Bat at 1.0938
Lower-than-expected inflation data from the United States resulted in US Dollar selling and continued upward pressure for EUR/USD.
From a technical perspective, a bearish Bat will be completed at 1.0938. We have a supply zone between 1.0930 and 1.0938. Today’s support level is located at 1.0785. DeMark indicators are completing 9 counts on various higher time frames. This is an indication of an impending correction to the downside.
Resistance: 1.0930 (supply), 1.0938 (bat), 1.0981 (swing high)
Support: 1.0812 (swing high), 1.0785 (bespoke), 1.0724 (swing low).
