EUR/USD saw a drop on Wednesday, finding support just above 1.0905, while encountering resistance below 1.0940. This indicates that after a brief upward movement, the pair may continue its downward trend.
If EUR/USD struggles to break above 1.0940 today, the next target for a potential decline could be the support level at 1.0870.
In terms of resistance and support levels for today:
Short-term resistance is at 1.0940, with significant resistance at 1.0965.
Short-term support is at 1.0900, with key support at 1.0870.
Traders should keep a close eye on these levels as EUR/USD navigates the market, as they will be crucial for understanding the pair's next moves.
by ForexInflux
Thursday, August 08, 2024
EUR/USD Update: Short-Term Movements and Key Levels
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