FX.co ★ EUR/USD analysis for March 24, 2022 - Broken rising trendline in the background

Technical analysis:

EUR/USD has been trading sideways at the price of 1.0990. I see potential for the downside breakout.

Trading recommendation:

Due to the breakout of the rising trendline in the background and higher time-frame downside trend, I see potential for further downside continuation.

Watch for selling opportunities if the price breaks support at 1.0950

Downside objectives are set at the price of 1.0910 and 1.0820

Stochastic is showing fresh bear cross, which is another sign and confirmation for the downside movement.

Resistance level is set at 1.1045/70