Despite a softer PPI report, the EUR/USD has arrived inside a resistance range between 1.0340 and 1.0500.
Given the long-term bear trend, it would not be a surprise if it started to sell off from here after a big upward move last week. On this time frame, the next level of support is now seen around the breakout area of 1.0090, which means even if rates have hit a new low, there is a chance of a deep pullback in the event of some short-term levels breaking.
It will be interesting to see how this will unfold.
Given the long-term bear trend, it would not be a surprise if it started to sell off from here after a big upward move last week. On this time frame, the next level of support is now seen around the breakout area of 1.0090, which means even if rates have hit a new low, there is a chance of a deep pullback in the event of some short-term levels breaking.
It will be interesting to see how this will unfold.