EUR/USD hit a new six-month low near 1.0550
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About today's news:
EUR/USD is holding lower near 1.0550, at a fresh six-month low during the Asian session on Wednesday. The US dollar remained steady, benefiting from risk-off, maintaining bearish pressure on the pair.
EUR/USD briefly traded above 1.0600 but quickly retreated. The pair hit a low of 1.0561. The h chart shows a downtrend and the pair continues to find support. The negative trend will persist as long as the pair remains below 1.0735.
On the 4-hour chart, a bearish bias is clearly visible, with the next key support zone at 1.0550 expected to limit the decline in the coming hours. On the positive side, the Euro needs to regain 1.0610 to ease downward pressure. If the Euro falls below 1.0550, it is likely to accelerate further to the downside.
About today's news:
EUR/USD is holding lower near 1.0550, at a fresh six-month low during the Asian session on Wednesday. The US dollar remained steady, benefiting from risk-off, maintaining bearish pressure on the pair.
EUR/USD briefly traded above 1.0600 but quickly retreated. The pair hit a low of 1.0561. The h chart shows a downtrend and the pair continues to find support. The negative trend will persist as long as the pair remains below 1.0735.
On the 4-hour chart, a bearish bias is clearly visible, with the next key support zone at 1.0550 expected to limit the decline in the coming hours. On the positive side, the Euro needs to regain 1.0610 to ease downward pressure. If the Euro falls below 1.0550, it is likely to accelerate further to the downside.
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