Can Euro Rebound Within the Downward Channel?
In the current EUR/USD chart, the downtrend is clearly in the downtrend channel and the price is continuously below the 34 and 89 EMAs, indicating strong selling pressure. The euro has recently failed to overcome the resistance at 1.0960, which reinforces the downtrend. If the support at 1.0930 is broken, I expect the price to continue falling, aiming for 1.0900 or lower.
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