EUR/USD – Possible bullish bounce at the 1.0700 level

The Euro keeps weakening versus the Dollar and has reached levels that it has not visited since 12 years ago. Investors are now expectant of the moment in which the pair reaches parity, which is when it reaches the 1.0000 level. However, we know that the markets never go up or down in a straight line and they show some pullbacks on the way. That is why it is possible to see a bounce to the upside from the 1.0700 level on the EUR/USD. Such a bounce could take the price back up to the 1.0800 level, but since the bearish trend is still in place, that zone of the 1.0800 could become a good resistance on the pair and the price may try to go back down from that area.