Forex
EUR/USD Selloff Hits Resistance at 1.1425
The EUR/USD exchange rate has been on a downward trend, failing to stay above 1.1500 and extending losses.
A bearish trend line is forming with resistance at 1.1425 on the 4-hour chart, which could provide immediate resistance for any potential recovery wave.
The pair settled below 1.1450, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour) on the 4-hour chart.
If a close above 1.1425 resistance is achieved, it could spark a recovery wave for EUR/USD, with the next major hurdle being 1.1455 and then 1.1500, where a close above could start another steady increase.