EUR/USD faces pressure in an attempt to surpass the immediate resistance of 1.0740. The downward-sloping border of the Symmetrical Triangle formation on a daily timeframe, plotted from the high of December 28, 2023, at 1.1140, is acting as a major barrier for the Euro bulls.
The major currency pair is expected to find support at 1.0636, near the upward-sloping trendline of the chart pattern plotted from the low from October 3, 2023, at 1.0448, and the horizontal cushion plotted from April 16 low around 1.0600.
The long-term outlook of the shared currency pair has also turned negative as prices dropped below the 200-day Exponential Moving Average (EMA), which trades around 1.0800.
تم التحرير 19 Jun 2024, 20:07
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