Usman Salis
⬤ The EUR/USD pair has declined toward a clearly defined support area on the hourly chart. Traders are now watching these lows closely as price approaches a previously tested level that could determine the next directional move.
⬤ The chart shows a downward swing followed by price reaching a horizontal support zone where candles previously found buyers. The pair has returned to this same area, and how it reacts around this level is becoming the key short-term reference point for market participants.
⬤ After touching the support region, EUR/USD produced a small bounce, showing that buyers are stepping in at this level for now. However, price remains close to the lows, meaning the zone is still being tested rather than confirmed as a strong reversal point.
⬤ The next move depends on whether EUR/USD holds or breaks below this support. If the lows hold, price would likely remain within a consolidation range. A break beneath the zone would open the door for further downside and strengthen bearish momentum in the pair.
Usman Salis
