On July 2, technical analysis revealed threats to the EUR/USD rally. The pair had seen an increase of over 6% since mid-May. Key indicators suggested that this upward trend might be in jeopardy. Analysts pointed out several crucial signals to watch in the coming days.

The first signal was the resistance level that prevented further gains. This resistance has held firm, influencing trader sentiment and prompting concerns over potential reversal. Another notable factor was the recent performance of the US dollar, which showed increased strength against the euro.

Traders now closely monitor economic releases and geopolitical developments that could affect this pair. As the dollar strengthens, market participants must be cautious about their positions in the forex market, particularly with the euro.

In conclusion, technical factors pose significant challenges for the EUR/USD pair’s rally. This analysis underscores the importance of vigilance in navigating the forex markets.