The EURUSD price attacks the resistance – Forecast today - 02-05-2024

Expected Scenario

• The EURUSD price bounced bullishly to attack the 1.0715$ level and attempted to hold above it, indicating the beginning of recovery attempts on the intraday basis. However, stochastic shows negative signals that might hinder the rise.
• Therefore, it's preferable to stay aside until the price confirms its situation regarding the 1.0715$ level. Confirming the breach will push the price towards visiting 1.0795$ as the next positive target, while consolidating below it will push the price to decline again, targeting 1.0615$ areas initially.

Expected Trading Range

Between the support at 1.0650$ and the resistance at 1.0800$.