EURUSD midday update on 14-11-2023

The EURUSD pair is showing fresh positive trading towards the breakout of the descending triangle resistance line and an attempt to hold above it, which urges caution on the upcoming trades as consolidation above this level will lead the price to continue rising and end with The 1.0760 level is dominant.

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For now, we prefer to remain on the sidelines until the price confirms its next destination by monitoring the 1.0700 level, noting that a trade below this level again would reactivate a negative scenario with targets starting at 1.0640 and extending to 1.0540.

The expected trading range today is between support at 1.0610 and resistance at 1.0750.

Expected trend today: Neutral