EUR/USD Showing Potential for Downside Movement towards Key Support Level

EUR/USD has been trading in the sideways range at the price of1.0930 but I see potential for the downside movement towards the upside trend-line.

Due to the reversal pattern in the background and test of resistance at 1.0930, I see potential for the downside movement towards lower reference.

Downside objective is set at the price of 1.0870

MACD oscillator is showing neutral reading with no defined momentum.

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Key resistance is set at the price of 1.0970

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Topics

eur/usd price sideways range potential support level downside movement resistance momentum reversal pattern MACD oscillator upside trend-line lower reference objective neutral reading key resistance