EURUSD has experienced a downward move, extending from 1.1275 to as low as 1.1118, indicating a bearish sentiment in the market. Further declines are still on the table, and the next target for the pair could be the 1.1000 area.
Downside Continuation Expected:
The recent price action of EURUSD suggests that the bearish pressure is likely to persist. Traders are closely watching the 1.1000 support level, as a breach below this key level could open the door to further downside potential.
Resistance at 1.1200:
In the short term, EURUSD may face resistance around the 1.1200 level. A successful break above this resistance could trigger a temporary upside move, but the overall bearish bias may limit the pair’s upward potential.
In conclusion, EURUSD has extended its downside move, and further declines are possible, with the next target at the 1.1000 area. The pair may face resistance at 1.1200, and a break above this level could trigger another upside move.
