#EURUSD @ 1.07087 Price Analysis: Bears stay in the marker below trendline resiistance
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EUR/USD bulls need to get on the back side of the trendline resistance with risk to 1.0850.
Bears eye a break of recent lows for downside execution.
EUR/USD was pressured on Memorial Day, with the price falling from 1.0743 to a low of 1.0705 as the US Dollar’s 4-day winning streak lives on that is now up some 3% vs. the Euro. The following analysis shows the price sliding out of the bullish rally toward prior support.
The M-formation is a reversion pattern and it would be expected to draw the price towards the neckline.
The Euro remains on the front side of the trend and until it breaks out, there is a focus on lower lows. A break above, however, opens risk to 1.0850.
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