The EUR/USD pair tested the minor resistance level at $1.0496 but rebounded downward, maintaining the bearish trend outlook for today. The next primary target is set at $1.0400.
Bearish Momentum Supported by EMA50
The EMA50 continues to bolster the bearish wave, reinforcing the outlook as long as the price remains stable below $1.0496. Any break above this level could weaken the current negative bias.
Trading Range and Trend
Expected Trading Range: Between $1.0390 (support) and $1.0545 (resistance).
Trend Forecast: Bearish.
Traders should monitor the $1.0496 resistance closely while anticipating further declines toward the $1.0400 target, provided the price remains below the critical resistance threshold.
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