EURUSD defensive range tone Despite a modest bounce effort from supports at 1.2605 and more notable 1.2583, we still see a broader range theme into late
EURUSD defensive range tone
Despite a modest bounce effort from supports at 1.2605 and more notable 1.2583, we still see a broader range theme into late October, defined by 1.2583 and 1.2840/45.
Moreover, we also see narrower range parameters at 1.2740 and 1.2614/05 containing price action into midweek.
This leaves the bias for Tuesday for a roll back lower from ahead of 1.2740 towards 1.2665, maybe closer to 1.2614.
WHAT CHANGES THIS?
Downside: Below 1.2583 sees risk lower for 1.2500 and 1.2460.
Upside: Above 1.2840/45 aims higher for 1.2888 and 1.2902/30 targets.