FX.co ★ EUR/USD analysis for March 10, 2023 - Potential for the further drop

Technical analysis:

EUR/USD has been trading upside but I found that price has reached important intraday resistance Fibonacci at 1.0600 and there is chance for the further downside movement.

Due to the longer-term downside trend and the rejection of the Fibonacci, I see potential for the further downside movement.

Downside objectives are set at 1.0530 and 1.0400

DPO oscillator is showing extreme bull reading and potential for the downside rotation....

Key resistance is set at the price of 1.0600