EUR/USD Testing 1.166 – Rejection or Breakout Ahead?

[Arman Shaban]

Re: EURUSD Breakdown Alert: Could It Drop Toward 1.1565?

By analyzing the EUR/USD chart on the 2-hour timeframe, we can see that the price is currently testing the 1.166 supply zone. We need to watch if it gets rejected from this level — a strong rejection could lead to a deeper drop toward the 1.160, 1.158, and 1.1565 targets. However, if the price breaks and holds above 1.168, this bearish outlook will no longer be valid.