FX.co ★ EUR/USD analysis for August 28, 2023 - Potential for the rally

Technical analysis:

EUR/USD has been trading in the sideways range at the price of 1.0800 but I found rejection of the support at 1.0770 in the background, which is very good sign for the potential rally.

Due to the massive selling climax in the background and the rejection of the support, I see potential for the further growth towards upside references.

Upside objectives are set at the price of 1.0845 and 1.0875

Stochastic oscillator is showing fresh downside cross, but with no fallow trough...

Key support is set at the price of 1.0770