US indices decline as EUR/USD faces sustained selling pressure
Major US stock indices retreated on Tuesday, with the Dow Jones falling 0.2% to 46,602.98, while the S&P 500 and NASDAQ dropped 0.38% and 0.67% respectively. The risk-off sentiment in equities coincided with renewed pressure on EUR/USD, which continues to face headwinds from dollar strength. The synchronized decline in stocks and the euro suggests broad-based risk aversion is dominating market sentiment. Technical indicators point to further downside potential for both equities and EUR/USD, with the currency pair struggling to hold above key support levels. The negative correlation between US stocks and the dollar has reasserted itself, as investors seek the safety of the greenback amid equity market weakness. Traders are monitoring whether the equity selloff will accelerate, potentially driving additional safe-haven flows into the dollar. Near-term support for EUR/USD lies at 1.0950, with resistance at 1.1000.
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