Technical Analysis: EUR/USD Rebounds Amid Middle East

The EUR/USD pair has witnessed a notable recovery above the 1.0650 level. Reports of escalating tensions in the Middle East conflict have prompted investors to shift their focus towards the US dollar (USD) as a safe haven, leading to a decline in the EUR/USD pair.

From a technical standpoint, although the price is still maintaining a downward trend, signs of a recovery have emerged. It is anticipated that the price will test the SMA 50 area before resuming its downward trend.