EURUSD has been stuck in quite a tight trading range for about two weeks now. The currency pair currently sits at the support level of the range. Therefore we can expect the immediate target of the next move to be the resistance level as shown in the chart.
The indecision in
Last Friday, USDCHF exploded to the upside due to upbeat NFP data from USA. Despite this fact, the down trendline is still not broken, and the pair has hit a major resistance level.
Therefore it is very likely that the pair can retreat from the current levels. The near term downside