Hello everyone, are you curious about the current trend of EURUSD?
Today, EUR/USD has risen to nearly 1.0650, recovering from its five-month low of 1.0622 reached last Friday. The US dollar has strengthened due to increased buying pressure in the midst of political instability, which has put downward pressure on this currency pair.
The support level of 1.070 has been breached and no longer holds for this currency pair. The downtrend seems favorable as the price continues to move within a downward channel with no signs threatening this trend.
After a short period of adjustment, EURUSD is expected to retest a lower level around 1.053, following the current trend.
What do you think? Will EURUSD continue to decline?