FX.co ★ EUR/USD analysis for October 20, 2023 - Resitance on the test

Technical analysis:

EUR/USD has been trading near the important resistance at 1.0590 and I see potential for the rejection or the breakout mode.

In case of the rejection there is the chance for the downside movement towards 1.0550

In case of the upside breakout of the 1.0600, there is the chance for the higher prices towards upside objective at 1.0639

RSI oscillator is showing positive reversal and upside trend, which is giving more more odds for the upside scenario to develop.