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Negative moves still dominate the EUR/USD pair for the second consecutive session, within the expected bearish track during the previous analysis, recording its lowest level at 1.1735.
Technically speaking, we maintain our negative expectations, relying on the negativity of the stochastic indicator, with the continuation of the negative pressure of the simple moving averages.
From here and steadily trading below the resistance level of 1.1770/1.1780, the bearish bias is likely today, targeting 1.1700 an initial station, and breaking it will lead to more negative pressure, so we will be waiting for 1.1670.
Activating the bearish scenario depends on the stability of daily trading below 1.1780, and most importantly 1.1800, knowing that breaching the latter may increase the possibility of touching 1.1870.
| S1: 1.1700 | R1: 1.1800 |
| S2: 1.1670 | R2: 1.1870 |
| S3: 1.1605 | R3: 1.1905 |
