Looking at EUR/USD Chart, we can see the inability to hold on in the 1.135 and as the invasion fears intensified past week it led to the fall below the 1.12750, and well into the 1.115 range, reaching as low as 1.11 on the 25th of February. Since then it managed to bounce back up in the 1.12 range but struggled to get above the 1.1275. Yesterday, there was a gap down as soon as the session started, causing the fall to 1.1125 and once again there was the climb into the 1.12 range. It was last found trading around the 1.122 range, having the 1.11 as closest support and closest overhead resistance of 1.1275 level.
Today we could expect a consolidation at the current range or an attempt to climb towards the 1.1275 closest resistance level.
If however, it does not manage to hold above the 1.12 range then a move towards and below the 1.11 support level can be expected.
(Click on image to enlarge)
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