EURUSD is currently pushing against the resistance at 1.0910. If this barrier is broken, we could gear up for another uptrend towards the resistance set at 1.0998. Should the pair breach this resistance, the focus then shifts towards the 1.1050 area.
However, we mustn’t overlook an alternative scenario. Should the 1.0910 resistance remain firm, it could signal that the recent rise from 1.0844 is merely serving as a stepping stone consolidating the previous downtrend from 1.0995. A drop below the 1.0844 support level could then steer the pair towards the next layer of support at 1.0800, and if this fails to hold, we might see it decline further towards 1.0723.
