Source: PaxForex Premium Analytics Portal, Technical Insight

EUR/USD falls toward 1.0600 on higher expectations of the Fed prolonging higher rates.

EUR/USD,D1

Pivot: 1.0617

Analysis:

While the price is above 1.0700, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.0617
• Take Profit 1: 1.0500
• Take Profit 2: 1.0400

Alternative scenario:

If level 1.0700 is broken-out, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.0700
• Take Profit 1: 1.0800
• Take Profit 2: 1.0900

Comment:

RSI shows the development of a downtrend in the medium term.