The EUR/USD pair has lost traction since the 10th of March 2016, with the sellers leading the price from as high as 1.1219 to as low as 1.1081.
During the course of the day on Friday, the pair fell, but found enough support near the 1.1081 area to turn things back around. Today, the pair initially consolidated around 1.1156, but fell down to 1.1102 at the time of writing. In the event that the sellers keep pressing lower and the major breaks below 1.1062, the price could find support at 1.1024 and 1.0979 respectively.
Alternatively, in the scenario where the price breaks above the daily high of 1.1171, the pair could reach 1.1219 and 1.1295 in extension.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.