EUR/USD Selloff Hits Critical Yearly Support

The EUR/USD has declined sharply since August's highs, falling more than 2.9% in the process.

With seven out of nine sessions seeing a decline and a third consecutive weekly loss approaching, investors are closely watching for support levels to hold or break.

A major yearly low-day close near $1.1355/60 is looming, which could pose significant risk if broken, potentially leading to another leg lower in the EUR/USD.