EUR/USD: Increasing Downward Pressure, Key Support Under Threat
EUR/USD is currently hovering around the $1.10386 level, a critical support zone. If this level doesn’t hold, there’s a strong chance that EUR/USD could continue to drop further.
The next key support levels lie at $1.10062 and $1.10059, where the market might either find some recovery or experience a sharper decline.
Sellers are currently dominating the market with consistent pressure pushing the price lower. The EMA 34 ($1.10735) and EMA 89 ($1.11078) are above the current price, further reinforcing the downtrend. Without any strong push from buyers, the likelihood of continued downside is high, making this a good time to consider selling.
Important economic news from the U.S. could trigger significant moves in EUR/USD, potentially determining whether the pair can reverse or continue to drop further.
The next key support levels lie at $1.10062 and $1.10059, where the market might either find some recovery or experience a sharper decline.
Sellers are currently dominating the market with consistent pressure pushing the price lower. The EMA 34 ($1.10735) and EMA 89 ($1.11078) are above the current price, further reinforcing the downtrend. Without any strong push from buyers, the likelihood of continued downside is high, making this a good time to consider selling.
Important economic news from the U.S. could trigger significant moves in EUR/USD, potentially determining whether the pair can reverse or continue to drop further.
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