EURUSD Forex Analysis for Today, Wednesday (25-10-2023)
EURUSD Under Pressure Trying to Break Through Support Area
EURUSD Analysis – The strength of the US dollar is affecting the movement of EURUSD, as EURUSD is once again falling, testing the support area of 1.05741 – 1.05603.
Today’s Trading Strategy:
There is a potential to SELL EURUSD today if it breaks below the 1.05741 – 1.05603 area, with the potential to decline to the 1.05317 – 1.05177 area.
Alternative:
If the support area 1.05741 – 1.05603 fails to be breached, it could potentially push EURUSD up to the 1.06827 – 1.06997 area.
Resistance
- R1 1.06997
- R2 1.07394
- R3 1.07777
Support
- S1 1.05603
- S2 1.05177
- S3 1.04757
