Republicans Retake Senate, EURUSD Holds at Critical ResistanceFxNew s—The October 23 low at 1.076 is the immediate resistance. The EUR/USD price is likely to exceed this level.
If this scenario unfolds, the consolidation phase could extend to the 50% Fibonacci retracement level, backed by the bearish fair value gap area.
This level provides a decent opportunity to join the bear market. Therefore, traders and investors should closely monitor the resistance area that expands from 1.081 to 1.084, backed by the 100-SMA, for bearish signals.
