Yesterday the EURUSD plunged and closed in the red near the low of the day, on a wide range day. The pair is trading inside a daily support zone and the sharp drop was held by the 50-day moving average. Today we may expect a green inside day due to the wide range day drop of yesterday. Key levels for today, to the downside the 1.1097 what’s left of the daily support, to the upside we have the 1.1236 the upper band of the daily support and the 1.1288 the 10-day moving average.
The euro recorded serious losses against the dollar on Tuesday. The single currency did not meet expectations and tumbled against the dollar, breaking and first support at 1.1214 and the second at 1.1149. If the negative trend continues in the future, the key level at 1.1081 will be threatened.
EUR/USD is testing support line 1.1172 until now we dont have a break below the support line but the RSI broke below the rising trend line which support more drop on the price. I am looking forward for 1.1100