The EUR/USD currency pair has recently seen a notable decline, dropping from a high of 1.0936 to a low of 1.0682. After hitting this low, the pair experienced a bounce back, climbing to 1.0824. However, it’s currently facing resistance at the 1.0831 level.
If the price manages to break through this resistance, we could see further upward movement towards the 1.0870 area, potentially reaching back up to 1.0936.
On the flip side, initial support is established at 1.0765. Should the price fall below this level, we might see a retreat back to around 1.0720. If that level fails to hold, the previous low of 1.0682 could come back into play.