"EUR/USD Continues Decline Below 1.0640 Amid Fed Comments
In Friday's Asian trading session, EUR/USD continued to decline below the 1.0640 level after reaching a peak near 1.0690 on the previous Thursday. Comments from officials at the Federal Reserve (Fed) provided some support for the US Dollar, driving down the EUR/USD pair.
On the 4-hour chart, we observe that prices have tested all the SMA lines, indicating that the downward trend is gaining strength. This suggests that selling pressure is increasing in the market and the US Dollar is strengthening significantly against the Euro.
On the 4-hour chart, we observe that prices have tested all the SMA lines, indicating that the downward trend is gaining strength. This suggests that selling pressure is increasing in the market and the US Dollar is strengthening significantly against the Euro.
