EUR/USD Price Prediction Below Key 1.16700 Resistance

• EUR/USD continues to face rejection beneath the 1.16700 resistance level, keeping bearish pressure intact. The failure to break above this zone suggests the pair remains positioned for further downside as long as it trades within or below this supply area. Chart patterns show a clear rejection inside a broad resistance band, with a potential move targeting the lower support region around 1.14800.

• Broader financial market discussions have added caution to the trading environment. Proposed tax adjustments affecting international financial operations have raised concerns about increased operational costs and potential disruptions to market liquidity. These uncertainties could amplify volatility across currency pairs, including EUR/USD.

• Industry voices suggest that raising transactional levies might reduce trading volumes rather than boost revenues, potentially hurting market efficiency. Alternative approaches focusing on profit taxation instead of transaction flow have been proposed as a more balanced solution.

• These debates are unfolding alongside broader policy discussions affecting employment incentives and corporate tax structures. Analysts warn that without careful calibration, such changes could impact market participation and overall sector contributions. Combined with technical resistance on EURUSD, these structural concerns reinforce the cautious sentiment visible in current price action.

• With resistance holding firm and market uncertainties evolving, EUR/USD traders are watching whether price can reclaim the 1.16700 zone or if the projected decline toward 1.14800 support continues. The current technical setup suggests a downside bias remains intact as long as the pair stays below the key resistance threshold.

---

Source: B Trader