The EUR/USD dropped below the 20-day Simple Moving Average (SMA) on Wednesday after facing resistance again at 1.0600. The slide occurred as the US Do
The US Dollar remains strong as market sentiment deteriorates. Key data from the US on Thursday includes Philly Fed and Jobless Claims, with Chairman Powell scheduled to speak. The EUR/USD pair reversed near 1.0600, falling toward a short-term uptrend line. llar strengthened across the board, supported by deteriorating market sentiment and higher Treasury yields. Chinese growth data exceeded expectations and initially boosted market sentiment.
Additionally, Federal Reserve Chair Powell is scheduled to speak at the Economics Club of New York. The EUR/USD continues to consolidate within a bearish dominant trend. Fundamentals continue to favor the US Dollar, limiting the upside potential and maintaining a risk tilt to the downside for the pair. EUR/USD short-term technical outlook The EUR/USD climbed to 1.0595 and then retraced, forming a double-top pattern in the short term. The bearish move below 1.
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