FX.co ★ EUR/USD analysis for July 22, 2022 - Brekaout of the rising trend-line the background

Technical analysis:

EUR/USD has been trading downside today and there is the breakout of the rising trend-line, which is good confirmation for the further downside movement.

Trading recommendation:

Due to the breakout of the rising trendline in the background, I see potential for further downside movement.

Watch for potential selling opportunities on the rallies with the downside objectives at the price of 1.0120 and 1.0000.

MACD oscillator is showing fresh downside momentum, which is good sign for further bear movement.

Key resistance is set at the price of 1.0275