EUR/USD: Recovery Faces Key Resistance Levels
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EUR/USD is currently trading near 1.0481, attempting a recovery after finding short-term support around 1.0460. The pair is retracing its earlier losses but remains under pressure within a bearish structure.
The immediate resistance lies at 1.0498, where sellers are likely to re-emerge. A break above this level could push the price toward the stronger resistance zone around 1.0534. However, failure to sustain above these levels might see the pair reversing toward the 1.0460 support.
If EUR/USD breaks below 1.0460, further declines toward the next support zone at 1.0397 are likely. This level could act as a critical juncture for determining whether the bearish momentum will extend.
The pair remains in a cautious state, with sellers dominating at key resistance levels. Traders should watch for price action near 1.0498 and 1.0460 to confirm the next directional move. For now, the bearish bias remains intact unless a decisive breakout occurs.
The immediate resistance lies at 1.0498, where sellers are likely to re-emerge. A break above this level could push the price toward the stronger resistance zone around 1.0534. However, failure to sustain above these levels might see the pair reversing toward the 1.0460 support.
If EUR/USD breaks below 1.0460, further declines toward the next support zone at 1.0397 are likely. This level could act as a critical juncture for determining whether the bearish momentum will extend.
The pair remains in a cautious state, with sellers dominating at key resistance levels. Traders should watch for price action near 1.0498 and 1.0460 to confirm the next directional move. For now, the bearish bias remains intact unless a decisive breakout occurs.
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