EURUSD At Key Resistance!

EURUSD At Key Resistance!
The EUR/USD has encountered resistance at the descending channel’s trendline near 1.0425, following yesterday’s strong rebound. This channel has defined the pair’s downward trajectory since last August, underscoring its technical significance. A sustained break above this resistance level would confirm a reversal in the dollar’s recent strength (noting that the EUR is the largest component of the DXY) and could pave the way for further upside in the pair. Conversely, a rejection at this level would reaffirm the prevailing downtrend, keeping the pair under pressure.

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