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The EUR/USD pair is under bearish pressure as it breaches the 1.1529 level, extending its decline from the 1.2081 peak. Key technical levels include daily pivots at 1.1563 (S1), 1.1594 (P), and 1.1641 (R1). The downward trend targets the 38.2% Fibonacci retracement at 1.1353, with the 1.1740 level acting as a critical support-turned-resistance. This analysis suggests continued weakness until the 1.1740 threshold holds. For forex traders, the breakdown below 1.1529 reinforces the bearish outlook, emphasizing the importance of monitoring the 1.1740 level. A sustained close below this level could accelerate the decline toward 1.1353, while a rebound above 1.1641 might trigger short-term corrections. The broader EUR/USD market remains sensitive to macroeconomic data and central bank policies, adding volatility to the pair. Investors should watch for follow-through selling below 1.1529 and potential resistance at 1.1740. If the bearish bias persists, the 1.1353 target becomes a key focus. Conversely, a reversal above 1.1641 could shift momentum. Traders are advised to use stop-loss orders and consider the broader EUR/USD context, including ECB policy signals, for strategic positioning.
