EURUSD Daily Analysis – September 5, 2023

EUR/USD has broken below the 1.0765 support level, indicating the resumption of the downside movement from 1.1275.

Further decline in price is expected, with the next target set around the 1.0700 area.

The immediate resistance level to monitor is located at 1.0810. A break above this level could potentially bring the price back towards the falling trend line on the 4-hour chart.

A breakout above the trend line resistance would confirm that the previous downside move from 1.1275 has completed. In such a scenario, the next target for resistance would be around the 1.1065 level.

Traders should closely observe the price action in EUR/USD, paying attention to the behavior around the immediate resistance level at 1.0810 and the trend line on the 4-hour chart. This will provide valuable insights into the potential continuation or reversal of the current price movement.