EURUSD: An Expected Extension Of The Short-Term Trend, Leading To Another Breakdown Under The 1.085 Closest Support Level

20 euro bill on white printer paper

Looking at EURUSD’s Chart, we can see the breakdown from the 1.1075 range on the 2nd of April, falling initially in the 1.0975 but unable to consolidate it fell further below, in the 1.09 range where it has been trading around for the past few days. It has found support at the 1.085 level and the closest resistance level is at 1.093. It was last found trading at the 1.0866 range.

Today we can expect an extension of the short-term trend, leading to another breakdown below the 1.085 closest support level.

If however, it does manage to consolidate at the current level then a move close to the 1.09 range can be expected.

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EURUSD