The EUR/USD pair is trading lower, influenced by geopolitical risks and expectations for a further rate cut by the European Central Bank (ECB).

Key Factors:

• Geopolitical Risks: The ongoing tensions between China and Taiwan are increasing market uncertainty and supporting the US Dollar as a safe-haven asset.
• China Economic Data: Weaker-than-expected Chinese trade data has raised concerns about the global economy and the demand for the Euro.
• ECB Rate Cut Expectations: The ECB is widely expected to cut interest rates by 25 basis points at its upcoming meeting.

Technical Analysis:

• Downward Trend: The EUR/USD pair is in a downward trend, with potential for further declines.
• Support Levels: The 1.0872, 1.0874, and 1.0824 levels are potential support levels.
• RSI: The Relative Strength Index (RSI) is in negative territory, indicating a bearish bias.

Overall Outlook:

The EUR/USD pair is likely to remain under pressure, influenced by geopolitical risks, economic factors, and the European Central Bank’s monetary policy. Traders should monitor technical indicators for signs of a trend reversal.