EUR/USD Under Downward Pressure
Hello everyone! Let’s join Alisa for an update on the EUR/USD pair’s movements.
EUR/USD is under downward pressure due to concerns over Eurozone economic growth and the ongoing interest rate hikes by the US Federal Reserve. Additionally, rising uncertainty around the conflict in the Middle East may have strengthened the appeal of the US dollar (USD) as a safe-haven asset. The USD is also supported by the uncertainty surrounding the upcoming US presidential election.
Currently, the EUR/USD pair is trading around 1.0816. The pair is moving within a descending channel and may continue to decline in the short term. The 1.0770 support level is a key barrier. If broken, the target could drop even lower.
Could a reversal be on the horizon? Let’s discuss it together!
EUR/USD is under downward pressure due to concerns over Eurozone economic growth and the ongoing interest rate hikes by the US Federal Reserve. Additionally, rising uncertainty around the conflict in the Middle East may have strengthened the appeal of the US dollar (USD) as a safe-haven asset. The USD is also supported by the uncertainty surrounding the upcoming US presidential election.
Currently, the EUR/USD pair is trading around 1.0816. The pair is moving within a descending channel and may continue to decline in the short term. The 1.0770 support level is a key barrier. If broken, the target could drop even lower.
Could a reversal be on the horizon? Let’s discuss it together!
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