Euro Readying to Resume Lower? Bearish Rising Wedge in Focus
The Euro may be readying to resume its broader downtrend against the US Dollar.
EUR/USD appears to be carving out a bearish Rising Wedge since finding a bottom in early March.
A breakout to the downside exposes 1.0945, opening the door to extending losses from February.
That would place the focus on April 2020 lows, making for key support between 1.0727 - 1.0793.
Otherwise, further gains would place the focus on the long-term falling trendline from May 2021.
EURUSD
EUR/USD appears to be carving out a bearish Rising Wedge since finding a bottom in early March.
A breakout to the downside exposes 1.0945, opening the door to extending losses from February.
That would place the focus on April 2020 lows, making for key support between 1.0727 - 1.0793.
Otherwise, further gains would place the focus on the long-term falling trendline from May 2021.
EURUSD