EUR/USD Under Selling Pressure: Resistance Blocks Recovery?
Updated
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.
Trade active
Join us for free trading signals on Telegram: t.me/+K_P08tUr1YpjZTE1
🚀 Win rate up to 85%
📊 Accurate and timely signals
⏱️ Super fast updates, never miss an opportunity
🚀 Win rate up to 85%
📊 Accurate and timely signals
⏱️ Super fast updates, never miss an opportunity
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.