The EUR/USD pair has been under selling pressures since Thursday, 15th of October, 2015, with the sellers being able to drive the price from as high as 1.1494 to as low as 1.1308.
In the scenario that the buyers manage to break above the price of 1.1379, the price could reach 1.1402 and 1.1424 in extension.
Conversely, in the scenario where the sellers continue pressing the pair lower and the price breaks below the level 1.1308, the pair could decelerate down to 1.1212.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.