The price zone around 1.1500 has applied significant SELLING pressure upon the previous ascending movement towards it.
Shortly after, the EUR/USD pair has been moving downwards reaching the price levels of 1.0850, 1.0400, 1.0000 and recently 0.9600.
The market has remained under buying pressure until a plateau level occurred around 1.0800-1.0850. This was followed by a significant SELLING price action leading to the recent price decline.
The price level of 1.0800 remained a significant resistance level to offer SELL opportunities until the current upside movement was expressed.
The next target is located around 1.1000 where the previous daily top is located.
On the other hand, any downside movement towards 1.0300 should be watched for BUYING pressure where a new upside movement can be established.
PAUTAN SEGERA
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