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EURUSD holds just above 1.1160 amid strong dollar and France worries
The pair has been in the red for four straight weeks and is testing the outlook around 1.1130 to 1.1000 as bears focus on psychological support.
Eurodollar was quoted just above the new 2026 low at 1.1160 on Thursday, remaining under pressure as the US dollar stayed strong, oil prices rose, and a developing fiscal crisis in France weighed on sentiment, according to Action Forex.
The outlet also pointed to negative German trade data as an additional headwind, noting that Germany's trade surplus narrowed, exports declined further, and imports showed only a minor improvement.
Action Forex said EURUSD has stayed in a bear trend for a fourth consecutive week and recently broke below a multi month bear channel support level, shifting attention to 1.1130/00, followed by psychological support near 1.1000.
While the technical picture is heavily bearish, the outlet added that conditions such as oversold RSI have been in place for some time, suggesting any bounce could face nearby resistance around the 1.1280 to 1.1320 area.