EURUSD Technical and Fundamental Report: Key Support and Fibonacci Resistance Levels to Watch
Over the past three trading days, EURUSD has steadily declined from near 1.18, closing yesterday at 1.17463, reflecting growing euro pressure. Better-than-expected US economic data have bolstered the US dollar, leading to a weaker EURUSD. Hawkish Fed minutes further weighed on the pair, signaling a bearish sentiment. For the average investor, strong economic performance in major economies typically benefits the favored currency, and in the short term, EURUSD is likely to extend its weakness. Market sentiment is influenced by robust US fundamentals coupled with low year-end liquidity, warranting cautious observation and looking for clear technical signals before entering trades.


