Main Scenario: As long as EURUSD stays below 1.1609, the main trend will be downwards. Then the pair may down to 1.1563 price level
Target Expectation: 1.1563
Considerations Supporting The Scenario:
Expectations that the Fed could withdraw economic support kept the dollar index near a one-year high. Spiking U.S. bond yields added to the currency’s firmness.
Alternative Scenario: An alternative expectation may be taken into account in case of a close above 1.1609
Alternative Target Expectation: 1.1664