EURUSD has recently extended its downward trend, falling from 1.1275 to 1.1059. Despite this significant drop, further decline is still possible, with the next target being the 1.1000 area. If the price falls below this level, it could even aim for the previous low of 1.0833.
However, there is some resistance to this downward trend. The immediate resistance is at the falling trend line on the 4-hour chart. If the price manages to break through this trend line resistance, it could rebound back towards the key resistance level of 1.1146. If the price rises above this level, it could even aim for the previous high of 1.1275.
Overall, while further decline is possible for EURUSD, there are also potential resistance levels that could see the price rebound. It remains to be seen how the market will react in the coming days.
