In today’s market review, the EUR/USD pair experienced a slight decline, registering at 1.09358, down by 0.04%. The analysis, based on a 4-hour chart,
In today’s market review, the EUR/USD pair experienced a slight decline, registering at 1.09358, down by 0.04%. The analysis, based on a 4-hour chart, identifies a pivot point at $1.09812. This level is pivotal, with current momentum indicating a potential bearish trend if the pair remains below this threshold. Key resistance levels are established at $1.10323, $1.10802, and $1.11369, which could challenge upward movements.
On the downside, support levels at $1.09149, $1.08431, and $1.07940 offer crucial barriers against further declines. The Relative Strength Index (RSI) is at 61, suggesting a moderately bullish sentiment, yet caution is warranted. The 50-day Exponential Moving Average (EMA) at $1.08825 supports a mild bullish undertone. However, a downward trendline extending resistance near $1.09812 underscores a bearish outlook below this mark.
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