EUR/USD is moving within a sideways intraday range, trading around the pivot level at 1.16770, while showing a slight bearish bias as price action remains under pressure below this key level. As long as the pair continues to trade below 1.16770, the downside scenario remains more likely, with expected targets at 1.16500 followed by 1.16300.
On the other hand, if the pair reverses direction and breaks above 1.16770, a corrective upward move may develop, opening the path toward 1.17100 and then 1.17200. Overall, sustained trading below 1.16770 supports continued weakness toward 1.16500 in the near term.
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