- EUR/USD was seen buying and selling across the 1.0820 space after the European session, falling for a 3rd consecutive day.
- Regardless of shedding over 1% this week, the current bullish crossover between the 100- and 200-day SMAs could present a robust base.
- Momentum indicators flip bearish, with RSI dropping sharply and MACD printing a contemporary crimson bar.
EUR/USD declined on Friday’s session after the European shut, shifting close to the 1.0820 zone because the pair tallied a 3rd straight day within the crimson. After a robust rally earlier within the month, the pair has misplaced over 1% this week, with momentum indicators now flashing bearish indicators. Nonetheless, structural assist stays agency as key shifting averages align beneath present worth ranges.
The Relative Power Index (RSI) has sharply retreated inside constructive territory and now hovers close to impartial, hinting at fading bullish momentum. In the meantime, the Shifting Common Convergence Divergence (MACD) has shifted course, printing a contemporary crimson bar, which confirms weakening momentum within the quick time period.
From a broader perspective, a bullish crossover between the 100-day and 200-day Easy Shifting Averages has taken form this week, forming a strong technical ground close to the 1.0730 area. This growth helps cushion the draw back, even when sellers proceed to weigh on the pair within the close to time period.
Wanting forward, quick assist is seen on the 1.0780-1.0730 zone, the place the shifting common crossover occurred. A break under may expose additional losses towards 1.0660. On the upside, resistance now sits at 1.0900, adopted by 1.1000 ought to patrons regain management.
EUR/USD every day chart
