EUR/USD Under Selling Pressure: Resistance Blocks Recovery?
Güncellendi
The 1-hour chart of EUR/USD shows a downward trend with a rounding top pattern, highlighting dominant selling pressure. Currently, the price is hovering near the resistance level of 1.07581 USD. If it fails to break through this level, EUR/USD may continue its downward trend towards the strong support area around 1.06904 USD, where buying interest could emerge.
If this support level is breached, the pair could experience a deeper decline. Investors should closely monitor price reactions at these resistance and support levels to make well-informed trading decisions.
Latest news impact: Recent strong U.S. economic data has boosted the USD, adding extra pressure on EUR/USD.
If this support level is breached, the pair could experience a deeper decline. Investors should closely monitor price reactions at these resistance and support levels to make well-informed trading decisions.
Latest news impact: Recent strong U.S. economic data has boosted the USD, adding extra pressure on EUR/USD.
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