EUR/USD could test the support at the psychological level of 1.0600. The pair could extend losses to November’s low at 1.0516 as Technical analysis suggests a bearish confirmation. The area around the major level of 1.0650 and the 23.6% Fibo level of 1.0672 appears as the resistance zone. The US Dollar's strength put pressure on the EUR/USD pair, possibly driven by increased US Treasury yields.
A break below this level could exert downward pressure on the pair to navigate the region around the major level of 1.0550, followed by November’s low at 1.0516. On the upside, the major level 1.0650 appears as the key barrier, followed by the 23.6% Fibonacci retracement level of 1.0672. A breakthrough above the latter could lead the EUR/USD pair to explore the area around the psychological level of 1.0700 and the nine-day Exponential Moving Average at 1.0715.