The EUR/USD currency pair is experiencing a slight rebound, trading around the 1.1700 level during Thursday's Asian session. This upward movement follows modest losses in the previous trading session. Despite this brief increase, technical analysis indicates that the pair still operates within a descending channel pattern, reinforcing a bearish outlook.
As the exchange rate hovers near the critical 1.1700 barrier, market participants are closely monitoring price action for potential signals. The prevailing bearish bias suggests that, unless the pair breaks out from the current technical confines, further declines may be on the horizon. Traders will need to remain vigilant as geopolitical and economic factors continue to influence the dynamics of the USD and EUR.
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Data Source: FX Killer Analysis Team Updated: 2026-01-22 04:47
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.