The EUR/USD continued last week’s decline today. It even touched the lows at 1.2030.
The 1.2030 area was last touched 14 days ago and was used as support at that time. Currently, the market is in a bearish trend channel. Either this will continue and go below the 1.2030 level or the support can hold again.
Currently, the scenario with a bullish breakout from the trend channel seems more likely. On the upside, the next resistance is at 1.2090.
