
EURUSD attempted to break the upper line of the trend channel yesterday, but with the start of the Israeli attack, a quick selloff followed. Rising geopolitical risks typically increase demand for U.S. debt and the dollar. As a result, EURUSD’s rally is facing short-term bearish pressure. The first key support level at 1.1495 is being tested. If it holds, there is a chance for another attempt at the upper line. However, if it breaks, 1.1440 and 1.1370 are the next support levels to watch in the short term.