EURUSD Daily Analysis – August 21, 2023

EURUSD has experienced a continued decline, starting from 1.1065 and reaching a low of 1.0844. The current trend indicates that the price is expected to continue moving downwards as long as it remains below the falling trend line on the 4-hour chart. The next target for the decline would be around the 1.0800 area.

However, if there is a break above the trend line resistance, it would indicate that the downward move has concluded. In that case, the pair may encounter resistance around the 1.1000 level on the upside.

In summary, the EURUSD pair has been on a downward trajectory, with a potential target of 1.0800 if the price remains below the falling trend line. A break above the trend line would suggest a different scenario, with a resistance level around 1.1000 to watch out for.