FX.co ★ EUR/USD analysis for September 14, 2023 - Potential for the downside breakout

Technical analysis:

EUR/USD has been trading sideways at the price of 1.740 in front of the ECB press conference today. There is the chance for the breakout mode.

Due to the downside short-term trend and consolidation in the lastt few days, I see potential for the downside breakout of the support at 1.0700.

In case of the breakout of the support downside objective is set at the price of 1.0650

MACD oscillator is showing lack of buying power, which is sign that sellers may take control.

Key resistance is set at the price of 1.0770