EUR/USD continues its downward trend, trading at approximately 1.1760 during Asian trading hours on Monday. This marks the fourth consecutive session of losses for the currency pair, as it faces significant pressure. The exchange rate is now testing support near the nine-day EMA, suggesting a potential vulnerability as it approaches the lower boundary of the ascending channel pattern.
The weakening bullish bias reflected in the technical analysis raises concerns for traders, as a break below this support level may signal further declines. Investors will be watching closely to see if the EUR/USD can regain its footing or if the bearish momentum will continue to dominate the market, influencing the broader trading landscape for the euro and the US dollar.
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Data Source: FX Killer Analysis Team Updated: 2025-12-29 06:34
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.