The EUR/USD currency pair has recently encountered some challenges in its attempt to push past resistance at 1.0831. Currently, it appears to be testing the support level around 1.0682, which previously acted as a low for the pair.
If EUR/USD breaks below this critical 1.0682 support, it could signal a resumption of the recent downward move that started from the high of 1.0936. In such a scenario, we might see the pair targeting the 1.0600 area, with the potential for further declines towards the 1.0530 level.
On the flip side, the initial resistance is situated at 1.0740. Should the pair manage to break through this barrier, we could witness a rebound, possibly pushing up towards the 1.0780 mark and eventually revisiting the key resistance at 1.0831.