The EUR/USD currency pair has been on an interesting journey lately. After climbing from a low of 1.0761 to a peak of 1.0936, the pair has experienced a notable pullback. This decline has taken the price down to 1.0821, breaking through the key support level at 1.0831. This movement suggests that the recent bullish trend from 1.0761 may have reached its peak at 1.0936.
As we look ahead, further declines could be on the horizon, especially after a period of consolidation. Traders should keep an eye on the next target level around 1.0800, followed by the previous low support at 1.0761.
On the resistance side, the initial barrier is set at 1.0860. If the price manages to break above this level, we could see it bounce back towards the 1.0900 area.