EUR/USD is currently in a defensive position below the 1.0600 level, facing difficulties in finding opportunities for price increase and showing no signs of a reversal in trend. The cautious risk sentiment persists as the US dollar remains steady ahead of the Federal Reserve's interest rate decision and important US employment data.
On the 4-hour chart, the decline of EUR/USD has found support around the short-term uptrend line and is currently trading around the 1.057 level. A recovery above 1.0600 would strengthen the outlook for the Euro, with the next resistance level at 1.0630. On the other hand, consolidation below 1.0560 would indicate weakness ahead.
On the 4-hour chart, the decline of EUR/USD has found support around the short-term uptrend line and is currently trading around the 1.057 level. A recovery above 1.0600 would strengthen the outlook for the Euro, with the next resistance level at 1.0630. On the other hand, consolidation below 1.0560 would indicate weakness ahead.
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