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EURUSD - Consolidation above downtrend resistance

2025-12-03 10:08 FOREX forecast

💡 Ideas For #EURUSD 🇪🇺🇺🇸

📈 Consolidation above downtrend resistance

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EURUSD is attempting to reverse the trend amid expectations of interest rate cuts in the US. Important resistance at 1.165...

The dollar is breaking the support of the bullish trend amid expectations of interest rate cuts and news related to Powell. A decline in the index will support the euro exchange rate.

EURUSD is breaking the resistance of the downtrend, followed by bulls trying to keep the currency pair above 1.160, a psychological level. Against the backdrop of the dollar's decline, there is a chance of a breakout above 1.165 and growth

Resistance levels: 1.165 - 1.1656

Support levels: 1.159, 1.155

Before breaking through resistance, the market may consolidate or retest support. However, a breakout of 1.165 - 1.1656 and a close above this zone could trigger a distribution towards 1.173 - 1.182

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