EUR/USD back to square one again

Yesterday the noted fall in the EUR/USD saw it base out at 1.0777, as covered here at the time. The rebound that followed came as the DAX recovered off its lows and the US stock market futures pushed higher into the opening. So, the EUR/USD rebounded back to 1.0830. However, yet again it was unable to hold that rebound and fell back into the US close. The Euro closed in the US last night at 1.0791.The range seen so far today has been covered by 1.0778 to 1.0797. As you can see, so far it has held above the low seen yesterday, but only just. Standing back and looking at the longer-term picture and the breakout from above 1.05, to the current 2025 high at 1.0955, we could be in for a deeper correction. If that is a prognosis that is playing out, then we look at potential support levels lower down. The failure to get above 1.0961 last week is the kicker for all this and it has been mentioned here several times since it stalled at 1.0955 on March 18. Therefore, if we take the low this year, at 1.0141 and the high at 1.0955 we get support targets lower down, the first of which is right now at 1.0763 (23.6%) and then at 1.0644 (38.2%). After those two comes 1.0548 (50%). Only a rebound back above 1.0961 from here on would tend to negate potential for one of those to be met- we shall see on that. Meantime, the reader is once again drawn to the calls for month-end dollar demand and so far no further calls on that have been highlighted as far as can be seen here. The EUR/USD is right now at 1.0787