EURUSD → Euro weakens amid strengthening dollar

25 ago 2023

EURUSD continues to fall on the back of the strengthening dollar index. As I mentioned earlier in other ideas that the 103 level plays an important role for the DXY . The currency has consolidated above and headed towards 105, which makes both the forex and XAUUSD to fall

The chart shows a descending price channel that plays a key role in shaping the price. EURUSD breaks support at 1.0835 and forms momentum. Before the further fall, a quick correction to the resistance may be formed, after which I will wait for the price to fall to the nearest targets indicated on the chart. In the medium term, the currency pair may continue its decline until the USD policy changes.
Moving averages act as resistance, earlier MA-50 was tested by a false breakout

Resistance levels: 1.0835
Support levels: 1.0733
I expect the continuation of the fall amid the strengthening of the dollar. Euro is weakening, and the currency pair may fall to 1.06000

Regards R. Linda!