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EUR/USD Faces Key Resistance at Descending Channel Trendline

4 weeks ago

Less than a minute

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.

EUR/USD at key resistance!
Conversely, a rejection at this level would reaffirm the prevailing downtrend, keeping the pair under pressure.