On Tuesday, the EUR/USD currency pair declined to the 1.1010 level. During today’s morning, the pair was trading at the given level.
Note that the exchange rate is still pressured by the 55– and 100-hour moving averages, currently located circa 1.1030. Thus, some downside potential could continue to prevail in the market, and the rate could reach the 1.0980 mark
However, note that the currency pair could gain support at the psychological level at 1.1000. In this case, the Euro could trade sideways against the US Dollar within the following trading session.
