Eurusd Expect Down From Fib level

EUR/USD has extended its losing streak for the third consecutive day, trading lower around 1.0640 during the Asian session on Thursday. As expected, the US Federal Reserve (Fed) decided to keep the existing benchmark policy rates unchanged at 5.5% during the meeting held on Wednesday. Given these circumstances, I anticipate a continued downtrend and expect a retracement to occur between the levels of 1.06674 and 1.06784. I anticipate further losses in this price based on the bearish market conditions and hope that the price will decline to around the 1.06350 level.

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