EUR/USD Technical Analysis: Insights from Banks on Mild Downward Pressure
Wednesday, 23 October 2024, 01:34
EUR/USD Under Mild Downward Pressure
The ongoing technical analysis of EUR/USD indicates that the Euro is experiencing mild downward momentum. According to various banks, it is likely to edge lower, yet a break below the critical support level at 1.0770 seems improbable.
Status of Downward Momentum
This outlook indicates that while the overall downward momentum has not improved significantly, additional assessments might offer further insights into potential shifts. Investors should remain attentive to changes that could impact their positions.
- Current support level: 1.0770
- Long-term momentum: Unchanged
- Short-term outlook: Mildly bearish
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.