The EUR/USD price is currently testing the upper boundary of a descending channel and is hovering just below the 1.1100 mark. This suggests that there is a strong resistance level in place that the pair is struggling to break through. Traders should keep a close eye on this key level as a break above it could signal a potential bullish trend reversal. On the other hand, a failure to break through this resistance could lead to further downside momentum for the currency pair. Overall, the EUR/USD price forecast remains uncertain as it continues to flirt with the descending channel resistance.
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