The Euro may be readying to resume its broader downtrend against the US Dollar.
EUR/USD appears to be carving out a bearish Rising Wedge since finding a bottom in early March.
A breakout to the downside exposes 1.0945, opening the door to extending losses from February.
That would place the focus on April 2020 lows, making for key support between 1.0727 - 1.0793.
Otherwise, further gains would place the focus on the long-term falling trendline from May 2021.
EURUSD
EUR/USD appears to be carving out a bearish Rising Wedge since finding a bottom in early March.
A breakout to the downside exposes 1.0945, opening the door to extending losses from February.
That would place the focus on April 2020 lows, making for key support between 1.0727 - 1.0793.
Otherwise, further gains would place the focus on the long-term falling trendline from May 2021.
EURUSD
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.