EUR/USD Price Forecast: Break below 1.1100 puts 1.1000 in focus
The EUR/USD pair extends its losses below 1.1100 on Wednesday as traders digest the Federal Reserve's (Fed) hawkish comments, which have increased the odds of a rate hike. At the time of writing, the pair trades at 1.1092, its lowest level since May 2025.
On Wednesday, the EUR/USD pair continues its downward trend, falling below the 1.1100 level, with the current rate at 1.1092, the lowest since May 2025. Technical analysis indicates that EUR/USD has breached a significant support level, and a daily close under 1.1100 may trigger additional declines. The Relative Strength Index (RSI) suggests that sellers hold the upper hand.
If EUR/USD remains under 1.1100, it could potentially decline towards the May 23, 2025, low of 1.1050. The next target is the psychological level of 1.1000, followed by the May 12, 2025, low of 1.0951. To the upside, the first resistance point is 1.1100, after which the pair may aim for the day's high of 1.1170, and subsequently, the 1.1200 level. Above 1.1273, there are further resistance levels at 1.1300.
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