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07.02.2023 07:47 PM
The price zone around 1.1500 has applied significant SELLING pressure upon the previous ascending movement towards it.
Shortly after, the EUR/USD pair has been moving downwards reaching the price levels of 1.0850, 1.0400, 1.0000 and recently 0.9600.
The market has remained under buying pressure until a plateau level occurred around 1.0800-1.0850. This was followed by a significant SELLING price action leading to the ongoing price decline.
In the mean time, any downside movement towards 1.0300 should be watched for BUYING pressure where a new upside movement can be established.
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