The EUR/USD currency pair is currently encountering a crucial support level at 1.1026. A breakdown below this level could set the stage for further declines, potentially targeting the 1.1000 area. If the price breaches this threshold, it may aim for subsequent support levels at 1.0960 and eventually 1.0900.
On the flip side, the initial resistance is positioned at 1.1055. A breakout above this level could lead to a rally, with the price possibly rising to the 1.1090 region. Should momentum continue, the pair might even challenge the resistance at 1.1154.
Key Takeaways
- Support Level: 1.1026
- Potential Downside Targets: 1.1000, 1.0960, 1.0900
- Initial Resistance: 1.1055
- Upside Targets: 1.1090, 1.1154
Traders should keep a close eye on these levels as they could significantly impact the future movements of the EUR/USD pair. Whether you’re looking to capitalize on a potential decline or a breakout, these key points will guide your strategy. Stay tuned for updates!
by ForexCycle
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