Technical analysis
The RSI is closer to line 50, indicating that an uptrend may occur
The Ichimoku indicator displays a bearish sentiment
The Stochastic suggests a possible upward correction.
What the possible outcomes are
In the most likely scenario, EURUSD may attempt to recover towards the first resistance level of 1.17333 before declining towards the first support level of 1.17049.
If the pair surpasses the first resistance level, we should expect a continued surge towards the second resistance level of 1.17546.
Alternatively, the EURUSD pair may decline to the first support level of 1.17049.
A pass below the first level can move the price up lower toward 1.16820.
Key levels
Support 1.16820 1.17049
Resistance 1.17333 1.17546 1.17831
