EUR/USD: Short-Term Trend To Continue
| Mar 04, 2022 04:59AM ET
Looking at EUR/USD chart, we can see the inability to hold as well as break out from the 1.1250, which led to the retraction to the 1.110 range, where it attempted to consolidate.
Since then, it has been in steady decline, falling lower and lower without forming a support base. Earlier today’s session, it fell close to 1.10, with a small reaction. It was last found trading around the 1.101 range, having the closest overhead resistance of at 1.1125 range.
Today we could expect an extension of the short-term trend and a fall below the current level of 1.10. If, however, it does manage to hold above the 1.10 range, then a move towards the 1.1125 resistance level can be expected.
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