EUR/USD backslid a fifth straight trading day on Thursday, falling another one-fifth of one percent and declining further away from 1.0500.
EUR/USD backslid 0.2% on Thursday, shedding the 1.0500 handle. The ECB delivered a widely-expected double rate cut on Thursday. Tepid data docket awaits Fiber traders on Friday. Fiber eased lower for for a fifth consecutive trading day after the European Central Bank trimmed interest rates by another 25 bps, with broader market sentiment keeping one foot firmly in the Greenback for the day.
0679 and the 200-day EMA at 1.0819. This alignment of moving averages points to sustained downside pressure, as sellers have maintained control since the sharp breakdown in early November. The MACD indicator remains in bearish territory, with its signal line hovering below zero, further validating the downward momentum. The latest candlestick—a small-bodied red candle—underscores the lack of bullish conviction as the pair hovers near the 1.0470 region.
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