EURUSD

Key Indicators

• Technically, the overall momentum remains mixed. However, the short-term structure and momentum are currently favoring buyers. A successful defence of the 0.8450 zone could encourage buyers to re-enter the market. Conversely, a decisive break below support may trigger further downside pressure.

Fundamental Context

After the early pullback, the currency pair has managed to recover some of its losses. At present, the EURUSD is consolidating after experiencing a significant dip.