Wednesday, May 31, 2023
The EUR/USD pair faced strong resistance at 1.1500 and dropped to 1.0850, 1.0400, 1.0000, and finally, 0.9600.
The market bounced back from 1.0800-1.0850 but met with more sellers that pushed the prices down again.
The 1.0930 level was a key barrier for buyers, who could only lift the prices to 1.1000 briefly.
Therefore, the current level of 1.1000 was important to be watched watch for signs of selling pressure.
On the flip side, any dip to 1.0600 could attract buyers, who might drive the prices up again.
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