EUR/USD Decline Accelerates After Bearish Flag Breakdown

The EUR/USD currency pair has resumed its downward trajectory after testing the breakdown level of a bearish flag pattern, signaling continued selling pressure for the euro against the U.S. dollar.

A bearish flag is a continuation chart pattern that forms after a sharp price decline, followed by a period of consolidation (the flag). A breakdown below the flag's lower boundary signals that the downtrend is likely to resume.

The immediate support level lies near the recent swing low, which could act as a floor for the pair. If that level breaks, the next major support zone is expected around the psychological 1.0500 mark.