EUR/USD breaks below 1.1135 support, with analysts now eyeing 1.1095 as the next potential floor amid strengthening bearish momentum.
The EUR/USD pair has experienced an accelerated downside move, breaching the critical 1.1135 support level sooner than market analysts anticipated. According to UOB analysts Quek Ser Leang and Lee Sue Ann, this technical breakdown to 1.1121 signals a strengthening bearish momentum, shifting the immediate focus toward the next support level at 1.1095.
The next support level identified by UOB analysts is 1.1095.
The outlook has intensified to the downside because the pair broke below the 1.1135 support level faster than expected.
The EUR/USD pair has accelerated its downward trajectory, breaching the critical 1.1135 support level to trade at 1.1121. Analysts at UOB indicate that the rapid breakdown signals an intensified bearish bias for the currency pair in the short term.
The outlook is bearish in the short term following a decisive break below the 1.1135 support level.
According to UOB analysts, the next support level to watch is 1.1095.