EUR/USD continues to stay low below 1.0600
Hello traders, what do you think about EURUSD?
The pair is currently at 1.058. The pair remains weakened by the ongoing uptrend in the US Dollar along with US Treasury yields based on the Fed's higher long-term interest rate stance.
EUR/USD fell below 1.0600 for the first time in months, breaking key support at 1.0630. With prices below that level, further losses are likely. The daily chart shows the pair heading towards the area between 1.0510 and 1.0530, which represents the February and March lows.
On the 4-hour chart, support around 1.0560 could trigger a recovery. The 1.0600 and 1.0630 levels have now emerged as suitable resistance levels. A fall below 1.0550 could result in increased volatility and possible downside acceleration
The pair is currently at 1.058. The pair remains weakened by the ongoing uptrend in the US Dollar along with US Treasury yields based on the Fed's higher long-term interest rate stance.
EUR/USD fell below 1.0600 for the first time in months, breaking key support at 1.0630. With prices below that level, further losses are likely. The daily chart shows the pair heading towards the area between 1.0510 and 1.0530, which represents the February and March lows.
On the 4-hour chart, support around 1.0560 could trigger a recovery. The 1.0600 and 1.0630 levels have now emerged as suitable resistance levels. A fall below 1.0550 could result in increased volatility and possible downside acceleration
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