EUR/USD Price Analysis: Short-term downtrend resumes after four-day rally reverses, finger on risk EURUSD ECB Fed RiskAversion
edit Suisse. This is the first sign in Europe that any bank has faced a liquidity crunch issue amid higher borrowing costs. All eyes will be onThe EUR/USD pared back most of the gains that took it to the 1.0750 level, which is also pegged with the 50-Day Moving Average and a multi-tested support zone coinciding with a 50% Fib level of the 2021-22 decline.
The 21-DMA is coinciding with the 23.5% Fib level of the 2023 rally and may act as a strong resistance zone. Any upside momentum will have to confront all Fib levels as well as the 21-DMA and 50-DMA. The downside bias is likely to remain intact, and all eyes will be on the 1.0500 key psychological mark; a break below will throw the pair into no man's land.
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