EUR/USD analysis for June 23, 2023 – Strong downside momentum and breakout of the trendline
June 23, 2023 10:23 am
Technical analysis:
EUR/USD has been trading downside this morning and I found breakout of the rising trend-line, which is very good sign for the further downside movement.
Due to the breakout of the rising trend line and strong momentum to the downside, I see potential for the further drop towards lower reference point.
Downside objective is set at the price of 1.0675
MACD oscillator is showing increase in the downside momentum, which is another good sign for the further drop.
Key resistance is set at the price of 1.1013
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
EUR/USD
has been trading downside this morning and I found breakout of the
rising trend-line, which is very good sign for the further downside
movement.
Due
to the breakout of the rising trend line and strong momentum to the
downside, I see potential for the further drop towards lower
reference point.
Downside
objective is set at the price of 1.0675
MACD
oscillator is showing increase in the downside momentum, which is
another good sign for the further drop.
Key
resistance is set at the price of 1.1013
The material has been provided by InstaForex Company – www.instaforex.com
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