EURUSD Likely to weaken then strengthen

The EUR/USD pair has broken range support then settled at 1.1848 before rallying to retest trendline at 1.1970. The Euro is likely to weaken further than strengthen in short-medium term from fundamental analysis forecast. Expect the price to fall back to support at 1.1715 Mar'21 lows. The EURUSD may retest trendline support now turned resistance at 1.1983 - 1.205 in the near term.