EUR/USD Selloff Nears Critical Support Zone

The EUR/USD has been experiencing a significant decline, falling over 2.9% from its August high after breaking through the September opening range.

This downward trend has resulted in seven out of nine consecutive days of decline and marks the third weekly loss for the euro.

As the selloff approaches the yearly low-day close support zone, traders are becoming increasingly cautious, with a sustained break below this level potentially leading to further declines.