On Wednesday, EUR/USD found support above 1.0825 and faced resistance below 1.0870. This suggests that after a brief rise, the pair may resume its downward trend.
Key Levels to Watch
- Resistance Levels:
- Immediate resistance is at 1.0865.
- A more significant resistance level is at 1.0885.
- Support Levels:
- Immediate support is at 1.0825.
- A more critical support level is at 1.0800.
Outlook
If EUR/USD encounters resistance below 1.0865 today, it is likely to target the 1.0800 area on the downside. Traders should monitor these key levels to navigate the potential short-term movements in the pair.
Conclusion
EUR/USD is currently experiencing short-term fluctuations, with key resistance and support levels at 1.0865 and 1.0800, respectively. Keeping an eye on these levels will be crucial for understanding the pair’s next moves.