- EUR/USD extends its decline, hitting its lowest degree in two weeks.
- RSI continues to weaken in adverse territory, reflecting intensifying bearish momentum.
The EUR/USD pair suffered a pointy decline on Thursday, sinking to its lowest degree in two weeks as sellers took management following one more failure on the 100-day Easy Transferring Common (SMA). This marks the third consecutive rejection at this resistance degree, reinforcing its significance as a significant hurdle for bulls. The newest drop additionally noticed the pair shedding over 0.70% from current highs, placing further stress on its near-term outlook.
From a technical standpoint, indicators are tilting additional into bearish territory. The Relative Energy Index (RSI) continues to say no inside adverse territory, reflecting rising draw back momentum. In the meantime, the Transferring Common Convergence Divergence (MACD) histogram exhibits reducing inexperienced bars, highlighting the gradual erosion of bullish stress.
For now, the pair has misplaced grip of the 20-day SMA, rising the chance of deeper losses. Conversely, a rebound from this space might open the door for an additional try to reclaim the 100-day SMA at round 1.0520.
EUR/USD every day chart
