After rejection of 1.16100 price zone rejection, FX pair has move lower towards 1.13500 price zone.
Economic Calendar Analysis
The upcoming ISM Manufacturing PMI report could increase overall market volatility in the near term. In addition, end-of-June auctions of shorter-maturity U.S. Treasuries may present attractive opportunities if the results are received negatively by market participants.
EUR/USD daily chart analysis
The price has recently accelerated downward, aggressively breaking below key horizontal support levels at 1.14960 and 1.14500 to trade at 1.13543, well underneath its downward-sloping 20-day Simple Moving Average. This decisive breakdown confirms strong bearish momentum, turning the previously broken support levels into immediate overhead resistance alongside the dynamic trendline. If sellers maintain control and push the price cleanly through the current psychological support zone, the next structural downside targets are firmly established at the horizontal levels of 1.12000 and 1.11500.Daily Chart
Dollar Index review
The weekly DXY chart shows the index trading within a broad multi-month range after a prior decline from the 106.0- 108.00 area, with price now pressing into a key resistance zone around 100.00- 100.80 that has repeatedly capped rallies. Recent price action suggests improving bullish momentum, with a push toward the upper boundary and a test of 100.76, but confirmation of a breakout remains dependent on a sustained weekly close above this level.DXY chart
Read More: Technical Analysis
Traders are long