EURUSD → Resistance pressure on the bearish trend

2024-04-01 08:21 FOREX forecast

💡 Ideas For EURUSD 🇪🇺🇺🇸

📈 EURUSD → Resistance pressure on the bearish trend

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EURUSD is not going to change the global trend yet, continuing to break support zones with the aim of further declines on the back of the dollar index growth.

The dollar index is preparing to strengthen further. The price is breaking the trend, which is generally negative for the currency pair. Today the market is waiting for PMI. In general, the data is expected to be better than in the previous period, but it is worth paying attention to the actual data in relation to the expected data.

Technically, price consolidation below 1.07958 will form a bearish potential and further momentum towards 1.0700.

Resistance levels: 1.08597

Support levels: 1.07958, 1.0703

The currency pair is ready to continue the trend. Consolidation of the price below this level may be the beginning of the impulse.

R. Linda

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