EUR/USD Pulls Back After Upside Move: What’s Next?

EUR/USD extended its rally from 1.1026 to a recent high of 1.1154. However, the subsequent pullback from 1.1154 suggests that the upward move may have completed.

What’s Next?

  • Further Decline Expected:
    • In the coming days, another drop is likely, with the next target being the key support level at 1.1026.
    • A break below 1.1026 could push the pair toward the 1.1000 area.
  • Resistance Levels to Watch:
    • Initial resistance is now at 1.1110.
    • Only a break above this level could reignite bullish momentum, leading to a retest of the 1.1154 resistance level.

Conclusion

EUR/USD has pulled back after its recent upside move, signaling a potential for further declines. Traders should watch the 1.1026 support and 1.1110 resistance levels closely. A break below 1.1026 could lead to a deeper drop, while a move above 1.1110 could open the door for another push higher toward 1.1154.