EURUSD: Bears continue to dominate the market!

Hey there, forex family! Today, EURUSD takes a momentary pause as the global market enters a holiday period. However, looking ahead, the US dollar is strengthening, influenced by hawkish sentiment surrounding the Federal Reserve and expectations of higher interest rates.

Technical analysis adds to the story, as the price breaks below the 1.0800 support level and trades below both the EMA 34 and 89, currently favoring the sellers. Our preferred move is to target a decline to the 1.0700 level.

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