The EUR/USD currency pair has seen a significant drop, falling from a high of 1.1213 to as low as 1.1032. This decline has pushed the price below the key support level of 1.1068, raising concerns about further downward movement in the coming days.
As we look ahead, the next critical support level to keep an eye on is 1.1000. If the pair continues to decline, reaching this point could set the stage for additional volatility.
On the flip side, there’s potential for a rebound. The initial resistance level is positioned at 1.1055. If the price manages to break above this level, we could see a test of 1.1085 next. A successful breakout beyond this point would suggest that the recent downward trend from 1.1213 has come to an end, potentially paving the way for another rise towards that previous high.