Daily Technical Outlook : EURUSD (Feb 7)

The EURUSD dips towards the rising chnanel support as the price continues to pullback lower within the context of the short term uptrend that started from 1.0340 low in early January. Holding below the channel support may extend the downside towards 1.0620 support area. However, without a clear break below that support the short term trend remains intact.

Short term scenarios:
Bearish towards 1.0620, as long as below 1.750.
In case we reach 1.0620, we expect an upside rebound targeting 1.0700.

Short term key support and resistance
1.0660 1.0620 1.0580
1.0710 1.0770 1.0810