EUR/USD Slides Towards 1.0800 on Risk-Off Sentiment and US Debt
Updated
EUR/USD is experiencing a decline in the European morning, with the pair approaching the 1.0800 level. The US Dollar is gaining strength as the market adopts a risk-off profile, with traders exercising caution ahead of upcoming US debt-ceiling discussions.
In terms of technical analysis, the price initially rebounded from the 61.8% Fibonacci level today, following a bearish impulse during the opening of the London market. However, our outlook remains focused on a continuation of the short position.
In terms of technical analysis, the price initially rebounded from the 61.8% Fibonacci level today, following a bearish impulse during the opening of the London market. However, our outlook remains focused on a continuation of the short position.
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