EURUSD struggled to break the resistance at 1.086 and has started to retract. The tepid rise of the US Dollar has led to a defensive risk sentiment, contributing to a modest pullback of EUR/USD to the 1.0830 region amid growing caution ahead of the US PCE release on March 29.
From a technical analysis standpoint, the path forward for this currency pair seems fraught with hurdles as the downtrend line remains active. A continued breach below the critical support level at 1.080 could precipitate a deeper slide.
From a technical analysis standpoint, the path forward for this currency pair seems fraught with hurdles as the downtrend line remains active. A continued breach below the critical support level at 1.080 could precipitate a deeper slide.