The euro-dollar exchange rate will probably continue to remain stable today and for the rest of the week, above the support of 1.092 and not far from the intermediate resistance of 1.098.
The most likely bullish scenario would see a progressive and gradual return towards the intermediate resistance of 1.098, passing from the targets of 1.095 and 1.0965.
Above the value of 1.098, we would approach an area characterized by high bearish pressure, which could trigger new and more serious rebounds. For this reason, as we have been repeating for some time, bulls should hope for a long and arduous accumulation process, before spontaneously breaking the 1.10 target.
Alternatively, the only push sufficient to break the resistance in question and bring the euro-dollar exchange rate back to the relative highs above 1.1020 would be guaranteed by the decisions or comments coming from the central banks.
Looking instead at the bearish scenario, I feel confident in limiting the declines to 1.09, considering that the support in question was not tested in the last downtrend and could certainly withstand renewed bearish pressure.
