EUR/USD has continued its downward move, dropping from 1.1201 to a low of 1.1041.

Key Levels to Watch

• Resistance at 1.1100:
  • The key resistance level to watch is 1.1100.
  • As long as the price remains below this resistance, the downtrend is likely to continue, with the next target around 1.1000.
• Potential Reversal:
  • If the price breaks above the 1.1100 resistance, it would signal that the downtrend may be over.
  • In this case, the next target would be the 1.1140 area.

Conclusion

EUR/USD is in a downtrend, with the key resistance at 1.1100 determining the next move. A break below this level could lead to further declines toward 1.1000, while a breakout above 1.1100 might signal the end of the current downtrend, targeting 1.1140. Traders should keep an eye on these levels to navigate the pair’s next direction.

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