The EUR/USD pair has been trending downwards since the 15th of January 2016, with the bearish pressures being noticed from as high as 1.0984 to as low as 1.0859.
During the course of the day on Monday, the pair initially fell to 1.0869 to then consolidate between the levels of 1.0905 and 1.0870. Today, the pair fell, reaching the session lows of 1.0859. In the event that the sellers keep exerting strong pressures, and the price breaks below 1.0859, the pair could reach 1.0844 and 1.0803 in extension.
On the flip side, a possible break above the level of 1.0916 could push the pair up to 1.0942 and 1.0984 respectively.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.