EURUSD | Will a breakout from trendline hint a short-term move?Euro/US DollarFX:EURUSDDatTongMacro approach: - The euro-dollar pair declined as the US dollar strengthened amid a sparse Eurozone data calendar. - Senior Eurozone energy officials cautioned that jet fuel supply constraints could weigh on economic activity ahead of the summer tourism peak. - Near-term euro volatility will likely hinge on developments in ongoing peace talks. Technical approach: - EURUSD broke the key level at 1.1713 and the ascending trendline. The price is below both converging EMA, suggesting a potential shift to bearish movement. - If EURUSD remains below 1.1713 and the ascending trendline, the price may sink to the immediate support at 1.1625. - Conversely, closing above the resistance at 1.1713 and the trendline may prompt a correction toward the next resistance at 1.1770. Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness