Technical outlook:
EURUSD is trading around 1.1340-45 level at the time of writing and could slip further to 1.1270 during the day. The single currency pair is still vulnerable for a decline towards 1.1250 before it can find support coming in. Bulls will remain inclined to be back in control from 1.1250-60 zone and push higher through 1.1386 thereafter.
EURUSD still remains confined to its consolidation between 1.1230-40 and 1.1350-60 range since early December 2021. The pair has carved a bullish boundary between 1.1186 and 1.1383 earlier and is retracing since then. A complex corrective wave might terminate around 1.1230-50 zone before turning higher again.
Only a consistent drop below 1.1186 will further open the door toward 1.1160 and lower. The pair faces interim support around 1.1186, while resistance comes in around 1.1390, followed by 1.1700 levels respectively. Watch out for intraday support coming in around 1.1250-70 zone in the near term.
Trading plan:
Potential rally through 1.1700, against 1.1150
Good luck!
