EUR/USD Is Testing the Support

EUR/USD has been moving to the downside for the past two weeks, since the pair reached the resistance at 1.1376 and failed to break above it. Currently the pair is testing the support at 1.1000 that coincides with (MA)89 on the daily time frame. If it manages to break below that level it will likely continue falling towards the next level of support which is at 1.0780. On the other hand, if the pair bounces off the support at 1.1000 we can expect a new move to the upside towards the previous high at 1.1376. Either way, so far the EUR/USD correction continues.