The EURUSD currency pair continues to face strong selling pressure, currently showing struggles to maintain ground above the key psychological level of 1.0500. This decline is largely attributable to recent economic policy shifts following the US House of Representatives’ approval of a significant tax cut plan spearheaded by former President Trump. As the US Dollar gains traction from this legislative victory, market sentiment leans heavily in its favor, further weighing on the Euro. Traders are keeping a close eye on the evolving economic landscape as these developments have significant implications for the Eurozone’s strength and the future behavior of the EURUSD pair.