Technical Alert EUR/USD

Looking at EURUSD chart, one can see that after yesterday's struggle, the price broke below the lower limit of Overbalance structure. The move hints that a downward correction may extend.

As long as the price sits below the 1.1392 handle, the downward move looks more probable. However, one should keep in mind that the main trend remains upward.

The buyers may appear at the support at 1.1300, which is marked with 85-period moving average and previous price reaction from 6th March.

Breaking below this support may lead to a bigger decline.

EUR/USD H1 Interval



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