Main Scenario: As long as EURUSD stays below 1.1606, the main trend will be downwards. Then the pair may down to 1.1487 price level
Target Expectation: 1.1487
Considerations Supporting The Scenario:
Emerging market currencies sank to six-week lows on Wednesday as a spike in oil prices spurred concerns over high inflation and drove investors out of risk-driven assets.
Alternative Scenario: An alternative expectation may be taken into account in case of a close above 1.1606
Alternative Target Expectation: 1.1638