EURUSD continues its downward path
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The EUR/USD pair seems to have entered a period of bearish consolidation and is currently trading within a narrow range around the 1.0465 level. This marks a new low for the year, which was reached during the European session on Tuesday.
The euro has been weakened by indications that high inflation in the euro zone may be coming to an end, as well as economic weakness in Germany - Europe's largest economy. As a result, there is speculation that the European Central Bank (ECB) may consider cutting interest rates in its next move. Furthermore, the strong bullish sentiment surrounding the US Dollar (USD) continues to put pressure on the EUR/USD pair.
Overall, these factors have contributed to the current state of consolidation and limited movement in this currency pair.
The euro has been weakened by indications that high inflation in the euro zone may be coming to an end, as well as economic weakness in Germany - Europe's largest economy. As a result, there is speculation that the European Central Bank (ECB) may consider cutting interest rates in its next move. Furthermore, the strong bullish sentiment surrounding the US Dollar (USD) continues to put pressure on the EUR/USD pair.
Overall, these factors have contributed to the current state of consolidation and limited movement in this currency pair.
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