The EUR/USD pair extends its decline, breaking key support as the US dollar rally accelerates, with sellers now targeting the 1.1400 level.

EUR/USD tested 1.1500 early Tuesday but managed to stabilize above this level. Despite the latest recovery attempt, the pair’s technical outlook suggests that the bearish bias remains unchanged in the near term.

EUR/USD is keeping its bearish tone at the start of the week, edging dangerously close to the key 1.1500 support area, also a three-month low, as spot logs a fourth straight day of losses.

The Australian Dollar (AUD) kicked off the new week on the back foot, extending its recent slide. AUD/USD looks increasingly likely to test that key 0.6500 support area soon if the current downtrend keeps running.

Spot Gold trades around the $4,000 mark on Monday, confined to a well-limited intraday range. Financial markets are struggling for a fresh catalyst amid the United States (US) extended government shutdown and the subsequent lack of fresh data.

The EUR/USD pair approaches the 1.1500 mark on Monday, kicking off November, falling to fresh three-month lows amid persistent US Dollar (USD) demand. The Greenback found fresh footing mid-last week following a hawkish Federal Reserve (Fed) announcement.