Technical Analysis of EUR/USD

The EUR/USD pair is moving in a bearish trend on the daily timeframe. Prices successfully pulled back downward from the OB zone around the 1.1800 level. Further downside movement is expected during today’s session. This scenario is supported by the current strength of the US dollar.

Key Economic News

Today, the US dollar is awaiting the release of the US Consumer Confidence Index data, which may impact the movements of the EUR/USD pair.

Liquidity Levels

Prices are expected to decline, targeting the 1.1672 level, followed by the 1.1580 level.

Invalidation Scenario

The bearish outlook will be invalidated if prices revisit the 1.1850 level.