Following the DXY’s significant rebound off a 17-year trendline, the EURUSD has broken below a trendline that connected all consecutive lows of 2025. This opens the door to further bearish risks, with key support levels now in sight.
If the pair closes cleanly below 1.15, 1.1440 and 1.1380, downside extensions could reach 1.12 and 1.11, respectively.
On the upside, a close back above the 2025 trendline and the 1.18 mark could reinstate bullish momentum, potentially lifting the pair toward the 2021 highs between 1.20 and 1.23.
Written by Razan Hilal, CMT
If the pair closes cleanly below 1.15, 1.1440 and 1.1380, downside extensions could reach 1.12 and 1.11, respectively.
On the upside, a close back above the 2025 trendline and the 1.18 mark could reinstate bullish momentum, potentially lifting the pair toward the 2021 highs between 1.20 and 1.23.
Written by Razan Hilal, CMT
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.
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.