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The EUR/USD pair extended the previous day's rejection slide from resistance near the 1.0865 area and remained under some selling pressure for the second straight day on Wednesday. However, EURUSD manages to hold above 1.0800 during the Asian session.
In the short term, the pair remains supported around 1.0800. A breakout will result in a significant price drop, while a sustainment will result in an increase in price. It is expected that the price will continue to decline based on the EMA 34.89 technical fundamentals.
Based on fundamental news and technical analysis, we can expect a negative scenario at the moment.
The EUR/USD pair extended the previous day's rejection slide from resistance near the 1.0865 area and remained under some selling pressure for the second straight day on Wednesday. However, EURUSD manages to hold above 1.0800 during the Asian session.
In the short term, the pair remains supported around 1.0800. A breakout will result in a significant price drop, while a sustainment will result in an increase in price. It is expected that the price will continue to decline based on the EMA 34.89 technical fundamentals.
Based on fundamental news and technical analysis, we can expect a negative scenario at the moment.
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