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EUR/USD previously broke above its long-term descending trendline, signalling a potential bullish trend reversal. However, the recovery has struggled to gain traction, with the pair entering a period of range-bound consolidation following the breakout. The latest price action has seen EUR/USD break below its week-long trading range, suggesting that selling pressure is regaining control and the attempted bullish reversal may have lost momentum.
The breakdown below the consolidation range reinforces the prevailing bearish bias, raising the prospect of a resumption of the broader downtrend. As long as EUR/USD remains below the breached range, the near-term outlook is likely to remain tilted to the downside. However, a recovery back above the former range could weaken the bearish signal and pave the way for renewed consolidation.
ResistanceLevels:1.1263, 1.1370
Support Levels: 1.1163, 1.1086

Silver remains within a broader downtrend, characterised by a persistent pattern of lower highs and lower lows, reinforcing the prevailing bearish technical outlook. The latest price action shows the metal consolidating near its lowest level of 2026, suggesting that selling pressure remains elevated despite the recent pause in its decline.
A decisive break below the current consolidation range would reinforce the bearish bias and potentially trigger another leg lower, signalling a continuation of the broader downtrend. However, a sustained recovery above the upper boundary of the range could ease near-term selling pressure and pave the way for a technical rebound.
ResistanceLevels: 56.70, 61.44
Support Levels:52.80, 48.80
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