EurUsd- Strongly bearish under 1.0950

As mentioned in my analysis of EURUSD from two days ago, the pair failed to break above 1.1. Consequently, there was a potential for it to dip below the support level and continue its decline to the next significant support at 1.0750.

Indeed, the price dropped below the support zone and hit a local low at 1.0845 yesterday. Currently, the pair is undergoing an upward correction, presenting an opportunity for short trades.

In my view, any rallies toward 1.0950 should be considered for selling. Depending on risk tolerance and patience, the target can be set at either the recent low of 1.0850 or the major support at 1.0750.

The negation of this scenario occurs if EURUSD manages to break above 1.1.