EUR downtrend under pressure

EUR/USD is currently showing a volatile downward trend, with prices hitting key support and resistance areas many times, and no significant directional breakthrough has occurred.
From the overall trend, prices have been falling since the high of 1.05230, breaking through multiple key support levels, and are currently hovering around 1.03217, showing weak characteristics. From the perspective of the trend line, the obvious downward trend line suppression has exerted continuous pressure on prices, and the current price has failed to break through the resistance point of 1.03721 above.

Resistance level: In the short term, 1.03721 is the current important resistance level, and prices need to break through this position to further open upside space. If this point is stable, it may test the higher 1.04200 area.
Support level: The key support level below is around 1.02299, which is the previous low and an area where bulls may exert their strength. If this support is broken, the downward space will be further opened, possibly pointing to 1.01500.

Pullback test: The current exchange rate may rebound and test the 1.03721 line. If it fails to break through this resistance, it may be blocked and fall back, continuing the downward trend.
Continuation of decline: If the price falls directly and falls below the 1.03000 area, it will confirm the dominance of shorts, and the target is 1.02299 or even lower.
Operation suggestions:
If the price touches the 1.03721 resistance level and there are obvious signs of pressure, you can try short-term short orders, with the target below 1.03000 and the stop loss set above 1.04000.
If the price falls back to 1.02299 and stabilizes, you can consider long orders, with the target at 1.03200, and the stop loss is recommended to be set below 1.02000.
The current EUR/USD trend is still dominated by oscillating downwards. It is necessary to pay attention to the breakthrough of key points to determine the next direction and maintain a flexible operation strategy.