The EUR/USD currency pair is experiencing a bearish trend for the second consecutive day, currently testing the 1.1600 support level. The move comes as market sentiment shifts, driven by decreasing expectations for a further rate cut from the US Federal Reserve. This development has provided a modest boost to the US Dollar (USD), resulting in downward pressure on the Euro (EUR).
Traders are closely monitoring the exchange rate as it approaches key technical levels. If the pair breaks below 1.1600, it could signal further declines, potentially opening the door for additional selling pressure. In contrast, any rebound above this level may indicate a temporary stabilization in the market, as participants reassess the implications of Fed policy on the USD's strength against the EUR.
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Data Source: FX Killer Analysis Team Updated: 2025-11-17 06:30
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.