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EURUSD → Resistance pressure on the bearish trend

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💡 Ideas For EURUSD 🇪🇺🇺🇸

📈 EURUSD → Resistance pressure on the bearish trend


EURUSD is testing the support of the range formed inside the bearish trend. There is resistance pressure in the market
Bostic (Fed) stated that he now expects only one interest rate cut this year, thus this comment can be read as a hawkish attitude of the regulator. Bostic is often aggressive in his comments after Powell's speech

The dollar index are in a bullish phase, which has a negative impact on the euro. On H4, the price is bouncing off the support and may test the nearest resistance before further declining on the trend.

Resistance levels: 1.08597, 1.08975

Support levels: 1.07958, 1.07030

Technically, against the background of bearish trend, the resistance may affect the price accordingly, which may lead to a retest of the support with a subsequent breakout and decline.