EURUSD
The exchange rate remains in a well-defined downtrend, but momentum divergence signals suggesting exhaustion among dollar buyers have started to emerge. Below 1.1230, the market had already become extremely oversold, increasing the likelihood of a corrective phase. The area around 1.1475 represents strong resistance, and based on the current price pattern, it would be difficult to expect a larger correction than that. A trend reversal is still some distance away, as it would require the formation of a higher low, followed by a move back above the key 1.1719 pivot level.
Resistance levels: 1.1719; 1.1841; 1.1962; 1.2085; 1.2207.
Support levels: 1.1108; 1.0986.
