The EUR/USD currency pair has recently broken below the crucial support level of 1.0682, marking a significant downward shift from its earlier position at 1.0936. This decline has seen the pair reach a low of 1.0628, and there’s a strong possibility that further dips could occur in the coming days.
As we look ahead, the next major target to keep an eye on is the 1.0600 level, followed closely by the 1.0530 zone. Traders should remain vigilant as these levels may provide critical support during potential downward movements.
On the flip side, initial resistance is currently at 1.0675. If the EUR/USD can break above this level, we may see the price rebound towards the next resistance at around 1.0730. Surpassing this level would be a positive signal, suggesting that the recent downward trend might be losing steam.
In summary, keep an eye on these key levels: watch for potential declines towards 1.0600 and 1.0530, and at the same time, be alert for a breakout above 1.0675 to the 1.0730 resistance level.