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EUR/USD faces renewed downside as 1.1323 level holds key

Action Forex says a break below 1.1323 would resume a move toward 1.1175, while a decisive move through 1.1499 would shift the outlook back higher.

Reported · Written up by our desk · Major Pairs

EUR/USD remains range-bound above 1.1323, with intraday bias described as neutral by Action Forex.

The outlet says 1.1499 has effectively turned into resistance, and that a further decline is expected unless key levels change.

Action Forex notes that breaking 1.1323 would restart the decline tied to a 1.2081 to 1.1408 projection, with 1.1175 cited as the next level.

In the bigger picture, the focus is on a 1.1353 retracement level, where a decisive break would revive the case for a medium-term bearish trend reversal, while a strong rebound from 1.1353 followed by a move above 1.1621 would keep medium-term bullishness intact.

Latest closeEUR/USD 1.122 ▼0.3%

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