FX.co ★ EUR/USD analysis for November 15, 2023 - Potential for teh further downside movement

Technical analysis:

EUR/USD has been trading downside this morning after strong impulsive movement from yesterday after the CPI event. There is the chance for the potential downside correction today.

Due to the climax rally yesterday and breakout of the overnight support, I see potential for the further downside movement towards lower references.

Downside objectives are set at the price of 1.0820 and 1.0800

RSI oscillator had extreme reading and downside correction is in the play.

Key resistance is set at the price of 1.0885