FX.co ★ EUR/USD analysis for August 11, 2023 - Potential for the further drop

Technical analysis:

EUR/USD has been trading upside this morning but I found potential bear flag pattern in creation, which is good sign for the downside continuation.

Due to the strong downside movement in the background and the bear flag pattern in creation, I see potential for the further drop towarrds lower references.

Downside objectives are set at the price of 1.0967 and 1.0930

Key resistance is set at the price of1.1010