FX.co ★ Technical analysis on EURUSD for August 23rd, 2022.

Red lines- bearish medium-term channel

Green line- bullish RSI divergence

EURUSD is bouncing today but price remains below parity. Price has made a low around 0.99 earlier today. Technically there is no change in the medium- or even short-term trend. As we mentioned in previous posts, EURUSD is vulnerable to a decline towards 0.97. EURUSD continues making lower lows and lower highs. Today's bounce can not be seen more than a counter trend bounce and each bounce is considered as a counter trend bounce and selling opportunity. This remains true as long as price is below 1.0285. Only a move above 1.0285 will make us reconsider a change in medium-term trend.