EUR/USD Breaks Key Support: Further Decline Expected
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EUR/USD has broken below the crucial 1.1026 support level, signaling a potential continuation of its downward trend.
What to Expect Next:
- Continued Downside:
- In the coming days, further decline is likely, with the next target around the 1.1000 area.
- A breakdown below 1.1000 could push the price toward the next support levels at 1.0960 and 1.0900.
- Resistance Levels to Watch:
- Initial resistance is now at 1.1050.
- A breakout above this level could lead to a recovery, with the price heading back to the 1.1090 area.
- If the price continues higher, it could aim for the 1.1154 resistance level.
Conclusion
With EUR/USD breaking below key support at 1.1026, the downtrend is expected to continue unless the price can break above the 1.1050 resistance. Traders should monitor key support levels at 1.1000, 1.0960, and 1.0900, while a move above resistance could signal a potential reversal.
More By This Author:
EUR/USD: Downtrend Extends With Key Resistance In FocusEUR/USD: Continued Downside With Key Support Levels In Focus
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