EUR/USD dips below 1.0800, forecasting a notable decline
EUR/USD pair broke below the 1.0800 threshold on Thursday, hitting a new low for March at 1.0773-1.0774. Despite bouncing back from such lows, the pair still maintains a negative tone and stability around the 1.0790 price level.
The US dollar has benefited from positive comments from the Federal Reserve officials, with Governor Chris Waller confirming that the central bank is not keen on swiftly cutting interest rates.
Of note, the US dollar has gained momentum from upbeat remarks by Federal Reserve officials. Governor Chris Waller even affirmed that the central bank has no intention of hastily reducing interest rates.
In the near term, the 4-hour chart also continues to support the downtrend as EUR/USD remains below the 39 and 89 EMA lines, indicating the potential for a significant decline. Other technical indicators continue to decrease into negative territory, reflecting increased selling pressure.
The US dollar has benefited from positive comments from the Federal Reserve officials, with Governor Chris Waller confirming that the central bank is not keen on swiftly cutting interest rates.
Of note, the US dollar has gained momentum from upbeat remarks by Federal Reserve officials. Governor Chris Waller even affirmed that the central bank has no intention of hastily reducing interest rates.
In the near term, the 4-hour chart also continues to support the downtrend as EUR/USD remains below the 39 and 89 EMA lines, indicating the potential for a significant decline. Other technical indicators continue to decrease into negative territory, reflecting increased selling pressure.
