EURUSD: Structure Analysis

EURUSD: Structure Analysis

EURUSD encountered strong resistance near 1.0530.
After testing this zone multiple times, the price declined to the previous structure zone from February 19th. The selling pressure intensified further following positive US data on Thursday, leading to a break below the structure zone.

Currently, EURUSD points to a further decline to 1.0310

If the current broken support, now turned resistance, prevents the price from rising, EURUSD is likely to continue its downward movement towards the second structure zone near 1.0310.

If the price breaks below this second zone, it could decline even further.

You may find more details in the chart!
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