EURUSD Faces Downward Pressure: Testing Key Resistance Level
EURUSD is under significant downward pressure after breaking out of a rising wedge pattern and moving according to Elliott Wave theory.
Currently, the price is testing a key resistance zone around 1.09674, which will determine whether the downward trend continues. If it fails to break through this level, EURUSD may drop further, potentially heading toward 1.09216 or lower.
News about U.S. inflation and the Federal Reserve's monetary policy will be decisive factors influencing the short-term trend.
Currently, the price is testing a key resistance zone around 1.09674, which will determine whether the downward trend continues. If it fails to break through this level, EURUSD may drop further, potentially heading toward 1.09216 or lower.
News about U.S. inflation and the Federal Reserve's monetary policy will be decisive factors influencing the short-term trend.
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