Bearish outlook on EURUSD - 24 March 2023

Prices are testing a key resistance zone at 1.0850 on the M30 timeframe. A pullback to this zone, which coincides with the 50% Fibonacci retracement, could present the opportunity to ride the drop to the support zone at 1.0800, which is in line with the 161.8% Fibonacci extension. Price is holding below the 20 EMA and Ichimoku cloud, supporting our bearish bias.