FX.co ★ EUR/USD analysis for August 15, 2023 - Breakout of the downside channel

Technical analysis:

EUR/USD has been trading upside this morning and I found breakout of the downside channel, which is good sign for the further growth.

Due to the breakout of the downside channel and the tight consolidation in the background, I see potential for the further growth towards upside references.

Upside objectives are set at the price of 1.0935, 1.0960 and 1.1000

Stochastic oscillator is showing bullish divergence in the background, which is another good confirmation for the further upside movement.

Intraday support is set at the price of 1.0900