EUR/USD Outlook: Tracking the Downward Move Towards Key Supports
EUR/USD is showing signs of continuing its downward movement, possibly dropping further towards key support levels. The first support level to watch is at 1.0970, which could act as a temporary floor for the price. If the downward momentum persists, the next important support level is at 1.0900.
At either of these support points, there is a strong chance that buyers might step in, leading to a reversal. If these levels hold and the price bounces back, we could see EUR/USD rise towards the resistance level around 1.1200. However, if these supports break, it could signal further bearish pressure. Traders should monitor the price action closely around these levels to confirm potential entry or exit points.
At either of these support points, there is a strong chance that buyers might step in, leading to a reversal. If these levels hold and the price bounces back, we could see EUR/USD rise towards the resistance level around 1.1200. However, if these supports break, it could signal further bearish pressure. Traders should monitor the price action closely around these levels to confirm potential entry or exit points.
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