EURUSD
The exchange rate decline of the last few days and the return of the dollar's strength have dampened, but not yet eliminated, the prospect of a weakening dollar based on the previous breakout. The breakout two weeks ago took the exchange rate to a new high (1.2083) amid a trend-like rise. It would have been important for the expected further rise that the 1.1841 level not be breached, but this has happened, which is not a good sign from a long perspective. The steepness of the fall is also unfavorable, as the curve came down too quickly. A trend-reinforcing pattern would have been to stick as high as possible. Nevertheless, the upward trend may still be salvageable if we see at least one day of rapid rise and it remains above the upward trend during the correction phase. Of course, this could still include a drop to around 1.1719 in the coming days. However, the lower it goes, the weaker the upward trend becomes.
Resistance levels: 1.1963; 1.2085; 1.2207; 1.2329; 1.2451; 1.2573; 1.2695.
Support levels: 1.1719; 1.1597; 1.1475; 1,1352; 1.1230.
