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.