The euro, having found good support around the Murray 6/8 level at 115.090, has gained upward momentum, and from that level, we see a slight recovery.
However, according to the H4 chart, the EUR/USD pair is losing strength, so it is likely that the bearish cycle will resume in the coming days, and we could expect EUR/USD to reach the Murray 6/8 support at 1.1596.
If the euro breaks and consolidates below the Murray 6/8 level on H4 charts, we could expect it to reach the July 29 low around 1.1392.
Technically, the euro is struggling to maintain price levels above 1.1750, so this area has become strong resistance. In turn, we could expect a strong technical correction to occur below this area in the coming days.
