FX.co ★ Elliott wave analysis of EUR/USD for July 27, 2023

EUR/USD was rejected nicely after testing support at 1.1033. We still need a break above minor resistance at 1.1147 to confirm that wave ii has been completed and wave iii higher towards 1.1444 is in motion.

Support is now seen in the 1.1020 - 1.1050 area, which we expect will continue to act as a solid floor for the next impulsive rally higher towards at least 1.1444 and likely closer to 1.1821.