FX.co ★ EUR/USD analysis for June 23, 2023 - Strong downside momentum and breakout of the trendline

Technical analysis:

EUR/USD has been trading downside this morning and I found breakout of the rising trend-line, which is very good sign for the further downside movement.

Due to the breakout of the rising trend line and strong momentum to the downside, I see potential for the further drop towards lower reference point.

Downside objective is set at the price of 1.0675

MACD oscillator is showing increase in the downside momentum, which is another good sign for the further drop.

Key resistance is set at the price of 1.1013