- EUR/USD declines to lows round 1.0200 on Monday, marking a 0.90% drop as bearish strain intensifies.
- The pair managed to trim losses in the direction of 1.0300 however the outlook stays detrimental.
- RSI declines to 42, signaling weakening momentum, whereas MACD prints rising purple bars, reflecting persistent bearish traction.
The EUR/USD pair continued its downward trajectory on Monday, slipping to a low round 1.0200 earlier than staging a quick rebound to 1.0300. Nonetheless, the failed try to increase features highlights the prevailing promoting strain, preserving the pair under its 20-day Easy Shifting Common (SMA) and sustaining a bearish outlook.
Technical indicators additional help the detrimental bias. The Relative Power Index (RSI) has declined to 42, suggesting that draw back momentum is gaining traction. In the meantime, the Shifting Common Convergence Divergence (MACD) histogram is exhibiting rising purple bars, indicating that promoting strain stays dominant regardless of intermittent restoration makes an attempt.
Trying forward, instant help stands at 1.0200, a key stage that, if damaged, may set off a transfer towards 1.0150. On the upside, the primary resistance seems at 1.0300, adopted by the 20-day SMA close to 1.0350. Till the pair clears these resistance zones, the broader pattern stays tilted to the draw back.
EUR/USD each day chart
