- The pair kicks off the week with a 0.35% slide to 1.0400, halting its temporary two-day profitable streak.
- RSI drops to 38 in damaging territory, whereas MACD exhibits flat crimson bars, pointing to persistent draw back strain.
- The 20-day SMA continues to cap any tried rebounds, conserving the pair below bearish management.
EUR/USD opened the brand new buying and selling week on a softer word, sliding by 0.35% to hover close to 1.0400. Though the pair had posted modest positive aspects within the earlier classes, sellers re-emerged to push costs decrease, reaffirming the dominance of a broader downtrend. The 20-day Easy Shifting Common (SMA), located round 1.0500, nonetheless serves as a right away ceiling that the bulls have been unable to surmount.
In the meantime, the Relative Energy Index (RSI) has dipped additional into damaging floor at 38, suggesting intensified promoting strain, and the Shifting Common Convergence Divergence (MACD) histogram stays flat and in crimson territory, indicating that any restoration makes an attempt lack robust momentum. Except the pair can muster a sustained push above the 20-day SMA, the broader technical outlook is more likely to keep tilted to the draw back.
Wanting forward, market individuals will look ahead to any elementary catalysts or threat occasions which may spark renewed shopping for curiosity. Nevertheless, with momentum gauges pointing south, EUR/USD seems susceptible to additional weak point until bulls handle to beat close by resistance ranges.
EUR/USD day by day chart
