EURUSD Faces Pressure as US Dollar Strengthens
At the end of the day, the euro faced downward pressure during Thursday's trading session, driven by a strengthening US dollar.experienced a slight decline during Thursday's trading session as the US dollar continued to recover.
Moreover, recent soft data from Europe raises questions about a potential slowdown in the European Union economy.On the upside, the 50-Day EMA near the 1.09 level acts as a resistance area with previous support history. This level holds some market memory, exhibiting signs of resistance. In a recent attempt, the market briefly broke above the 50-Day EMA but was quickly rejected. If that continues to be the case, then the market could continue to see selling.
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