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fxJul 8, 2026, 6:43 PM

EUR/USD Bears Retain Control Within Descending Channel

EUR/USD holds firm on Wednesday after reversing earlier losses triggered by renewed US-Iran tensions, as traders digest the June FOMC meeting. Bears retain control within a descending channel.

EURUSD

EUR/USD is holding firm on Wednesday after reversing earlier losses that were spurred by renewed tensions between the United States and Iran.

Traders are also digesting the outcomes of the June Federal Open Market Committee (FOMC) meeting. Despite the recovery, bears continue to maintain control within a descending channel pattern.

The pair remains under pressure as long as it stays within this structure, with the channel's upper boundary acting as resistance.

Source: FXStreet Forex News