EURUSD Update: Downside Move Extends As Support Breaks
Image Source: Pixabay
The EURUSD currency pair has recently seen a significant shift, breaking below the crucial support level of 1.0682. This move has extended its decline from a high of 1.0936, with the pair dipping as low as 1.0628.
Looking ahead, there’s potential for further declines in the coming days. The next target to watch is around the 1.0600 mark, followed closely by the 1.0530 area. Traders should keep an eye on these levels as they could indicate where the pair is headed next.
On the flip side, initial resistance is set at 1.0675. If the price manages to break above this level, we could see a rally back towards the next resistance point at around 1.0730. A successful breakout above 1.0730 would suggest that the recent downward trend may be coming to an end.
More By This Author:
EURUSD Stages A Comeback: Will Bulls Reclaim Lost Ground?EURUSD Reverses Course: Bulls Retreat As Key Support Breaks
EURUSD Rally Continues: Eyes Set On 1.0930 And Beyond
Disclaimer: Futures, options, stocks, ETFs and over the counter foreign exchange products may involve substantial risk and may not be suitable for all investors. Leverage can work against ...
more
Comments
