Is EUR/USD pullback a retracement or reversal?
EUR/USD continues to move gradually lower, following a rally into the $1.0630 resistance zone on Monday. The price has found support around $1.0558, with the notable swing low of $1.0543 coming within increasingly close proximity.
An hourly close below $1.0558 points toward another leg lower, yet with a bullish falling wedge in formation, it looks as if we could break higher from the current downturn. However, until we take out the latest swing high (currently $1.0588), further downside seems likely.