The EUR/USD pair has been aggressively decelerating since the 12th of August 2015. The pair began its downward movement from as high as 1.1213 to as low as 1.1031.
The price is currently testing the support level at 1.1031, which is a good indication that the buyers might gain momentum and push the pair up. In the scenario where the price attempts a successful break above 1.1087, the pair could escalate up to 1.1143 and 1.1213 respectively.
Alternatively, in the event where the sellers manage to withhold their downward pressures, the price could break below the level of 1.0992 and reach 1.0855.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.