EURUSD Analysis – September 22, 2023

EUR/USD has broken below the support level at 1.0631 and continued its downward movement from 1.1275 to as low as 1.0614.

Based on this price action, there is a possibility of a deeper decline towards the bottom of the falling price channel on the 4-hour chart, which is currently around the 1.0590 area.

In terms of immediate levels to watch, there is resistance at 1.0670. If the price manages to break above this level, a retest of the 1.0768 resistance could come into play.

Traders should closely monitor the price movement within the falling price channel and the key levels mentioned. This will help assess potential breakouts, reversals, or continuations in the market.

It is important to stay updated on market developments and consider risk management strategies when making trading decisions.