EUR/USD has been trading downwards. As I expected, the price met our downward target at the level of 1.1000.Now, the support is on the test and you should be very careful with selling opportunities near the support. There is the chance for reaction back.
Yellow rectangle – Support levels
Orange rectangle - Resistance
Parallel purple lines – Upward channel
Purple rising line – Expected path
The level of 1.1000 is the critical support in my opinion. If you see the reaction back and successful rejection of the support, potential test of 1.1063 might be in the play. Anyway, if there is still strong downside pressure and the breakout of the upward channel, next down support is seen at the price of 1.0943.
