EUR/USD Price Analysis: Looks set for a breakdown below 1.0540 EURUSD Fed Inflation TrendFollowing SupportResistance
er a sheer downside inspired by the surprise jump in the United States consumer spending data released on Friday.
Thursday’s Doji formation was confidently broken by the market participants, which resulted in a trend continuation toward the downside. The Euro bulls are expected to find a cushion around the horizontal support plotted from 15 November 2022 high around 1.0482. The Relative Strength Index has displayed a range shift move from the 40.00-60.00 range to the bearish range of 20.00-40.00, which indicates that the downside momentum has been triggered.
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