EUR/USD: bearish bias back in play below 1.0600?
Currently, EUR/USD is trading at 1.0565, down -0.03% on the day, having posted a daily high at 1.0628 and low at 1.0558.
EUR/USD tapped out at the 1.0620 region and has made a break to the downside again after recovery attempts back to the 1.06 handle and now oscillates at aforementioned spot at time of writing.
EUR/USD neutral/bearish, sell on strength – Scotiabank
"We think the broader 1.0350/1.0650 range will prevail for now, as trend strength indicators are mixed/neutral across a range of time frames," explained analysts at Scotiabank, adding, "We favour selling rallies and look for a return to the low 1.05 area over our session."
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EUR/USD levels
Spot is presently trading at 1.0565, and next resistance can be seen at 1.0569 (Daily Open), 1.0584 (Yesterday's High), 1.0585 (Hourly 20 EMA), 1.0598 (Daily Classic R1) and 1.0599 (YTD High). Next support to the downside can be found at 1.0558 (Daily Low), 1.0555 (Daily Classic PP), 1.0549 (Hourly 100 SMA), 1.0525 (Daily Classic S1) and 1.0516 (Daily 20 SMA).
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