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EURUSD Hits Resistance, Risk of Decline to 1.10000 USD

för 5 dagar sedan

EURUSD is trading around 1.10756 USD after hitting resistance at 1.10934 USD and showing signs of a correction.

If the price fails to break through the descending resistance, the pair may drop to the support level of 1.10000 USD.

The EMA 34 and EMA 89 support the short-term uptrend, but downward pressure is increasing.

If the 1.10000 USD support holds, EURUSD could recover.

News from the ECB and U.S. economic data will play a crucial role in EURUSD's next moves.

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