EUR/USD Mid-Day Outlook: Testing Key Support as Bearish Momentum Grows Post-Fed Data
EUR/USD mid-day outlook for June 13, 2024 shows a notable shift after recent U.S. economic data and FOMC policy update. The pair’s pullback from 1.0915 to around 1.0750 signals growing bearish momentum, with key support at 1.0700 and 1.0665 under pressure. Short-term indicators, including the MACD crossover and RSI decline, reinforce seller control, though the medium-term uptrend from 1.0600 remains intact. Traders should watch 1.0780 resistance as a critical level for bulls to regain momentum. The coming sessions will clarify if this is a temporary correction or a deeper trend reversal.
