FX.co ★ EUR/USD analysis for August 03 2022 - Resistance on the test at the price of 1.0200

Technical analysis:

EUR/USD has been trading upside but there is the key pivot resistance at the price of 1.0200 on the test.

Trading recommendation:

Due to test of the resistance in the background and downside trend in the background, I see potential for further drop.

Watch for potential selling opportunities on the intraday rallies with the downside objective at 1.0155.

Stochastic is showing overbought condition and potential downside cross, which is good sign for further downside movement.

Key resistance is set at the price of 1.0195