Technical Analysis of EUR/USD

The EUR/USD pair is moving in a bearish trend on the 1-hour timeframe, after liquidity was taken above the 1.1646 level. Prices managed to reject lower from an Order Block (OB) on the hourly timeframe around 1.1601, and prices are expected to decline further targeting the next liquidity levels.

Key Economic News

After the release of the Consumer Price Index (CPI) data, there are no major economic events scheduled for today. Therefore, price action is expected to remain relatively balanced.

Liquidity Levels

Prices are expected to decline targeting the 1.1507 level, followed by 1.1482.

Scenario Invalidation

The bearish scenario will be invalidated if prices reach 1.1664.