EURUSD Outlook: Bearish Continuation Likely
Updated
The EURUSD pair remains under pressure, trading near 1.0590 as sellers continue to dominate the market. Recent attempts to recover have been capped near the highlighted resistance zone, aligning with key moving averages, reinforcing the bearish sentiment.
Technically, the pair shows a clear rejection at resistance levels, suggesting further downside potential. If the price fails to reclaim 1.0786, a continuation of the downward trend is anticipated, targeting the 1.0527 support zone initially. A break below this level could open the door for a deeper decline toward 1.0500 and beyond.
Traders should monitor the price action near the resistance zone closely, as any break above it could temporarily challenge the bearish momentum. However, the overall outlook remains bearish unless significant recovery signs emerge.
Technically, the pair shows a clear rejection at resistance levels, suggesting further downside potential. If the price fails to reclaim 1.0786, a continuation of the downward trend is anticipated, targeting the 1.0527 support zone initially. A break below this level could open the door for a deeper decline toward 1.0500 and beyond.
Traders should monitor the price action near the resistance zone closely, as any break above it could temporarily challenge the bearish momentum. However, the overall outlook remains bearish unless significant recovery signs emerge.
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