Euro might update lows
Tatiana Norkina, FBS analyst
EUR/USD corrected to the four-hour Ichimoku cloud lower border yesterday. As expected, the growth was induced by the pair's oversoldness. Let us note that the bulls have only managed to test the Senkou Span A levels. This morning, we are already observing the negative dynamics in the market. The prices' dive below the Tenkan and Kijun lines support is obvious to attract more sellers to the market. In this case, we might as well witness new lows.
Technical levels: support – 1.0600, 1.0560; resistance – 1.0640.
1. Sell — 1.0610/20; SL — 1.0640; TP1 — 1.0560; TP2 — 1.0500.