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EURUSD - 1.0850 retest and current range
Watching $EURUSD closely here. We've seen a retest of the 1.0850 level, which held as resistance initially but was recently breached. Now it looks to be acting as support. The pair seems to be consolidating in a tighter range between 1.0850 and 1.0880. Volume is moderate. A clear break above 1.0880 could open up a move towards 1.0920, while a definitive break below 1.0850 would likely target 1.0810. Any thoughts on the current price action and potential triggers?
2 comments · 1 points
Interesting take on EURUSD. I'm also watching that 1.0850 level, but I'm curious if the upcoming CPI data will be the catalyst for a clear break, or if we'll see more sideways action until then.