EUR/USD has extended its decline from 1.1201, dropping to a low of 1.1055.

What’s Next?

  • Further Decline Possible:

    • The downtrend could continue, and a break below the 1.1055 support level may push the price toward the 1.0985 area.
  • Resistance Levels to Watch:

    • Initial resistance is at 1.1105.
    • If the price breaks above this level, it could rise to the next resistance at 1.1140.
    • A move beyond 1.1140 could target the previous high resistance at 1.1201.

    • Conclusion
    EUR/USD remains under pressure with further downside possible if it breaks below key support at 1.1055. Traders should watch for potential resistance at 1.1105 and 1.1140, as a break above these levels could signal a recovery towards the 1.1201 high. For now, the focus is on whether the pair can hold above or break below the critical 1.1055 support.More By This Author:EUR/USD: Breaks Below Channel Support, But Uptrend May Still ResumeEUR/USD: Consolidation Within Uptrend Hints At Further Gains GBP/USD: Uptrend Continues With New Targets Ahead

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