Technical analysis
The EURUSD pair is bearish on the daily time frame according to Relative Strength Index and also the Stochastic indicator.
The daily time frame still shows that a rebound is possible while the EURUSD pair trades above the key former swing-low, close to the 1.1715 support level.
What the possible outcomes are
In our most likely scenario, the EURUSD pair will start to find support around the 1.1730 area and then trade back towards the 1.1840 resistance area.
Alternatively, the bearish daily trend continues and the EURUSD pair will break the 1.1700 support level and then fall towards the 1.1640 support level.
Key levels
Support 1.1715 1.1640
Resistance 1.1806 1.1840
