EU set up we have a great set up but its friday we might get a slow mover especially friday after steep losses in recent days, EUR/USD stabilized and rebounded off the psychological 1.0600 level on Wednesday, pushing past the 1.0650 mark. If the pair manages to build upon its recovery in the days ahead, resistance lies at 1.0695, followed by 1.0725. On further strength, the focus will be on 1.0820.
On the other hand, if sellers return and regain control of the market, technical support emerges at 1.0600. Bulls must staunchly defend this technical floor; a failure to do so could reinforce bearish pressure in the near term, resulting in a deeper pullback toward the 2023 lows located near 1.0450
On the other hand, if sellers return and regain control of the market, technical support emerges at 1.0600. Bulls must staunchly defend this technical floor; a failure to do so could reinforce bearish pressure in the near term, resulting in a deeper pullback toward the 2023 lows located near 1.0450