Forex analytics and overview
EUR/USD Faces Key Resistance at Descending Channel Trendline
2025.01.21 11:35
The has encountered resistance at the descending channel’s trendline near 1.0425, following yesterday’s strong rebound. This channel has defined the pair’s downward trajectory since last August, underscoring its technical significance. A sustained break above this resistance level would confirm a reversal in the recent strength (noting that the EUR is the largest component of the DXY) and could pave the way for further upside in the pair.
Conversely, a rejection at this level would reaffirm the prevailing downtrend, keeping the pair under pressure.
