- The pair begins the week down 0.35% at 1.0400, halting its brief two-day winning streak.
- The RSI falls to 38 in negative territory, while the MACD shows flat red bars, pointing to persistent downward pressure.
- The 20-day SMA continues to limit any rebound attempts, keeping the pair under bearish control.
EUR/USD opened the new trading week on a softer note, sliding 0.35% to hover near 1.0400. Although the pair had posted modest gains in previous sessions, sellers reappeared to push prices lower, reaffirming the dominance of a broader downtrend. The 20-day simple moving average (SMA), situated around 1.0500, continues to serve as an immediate ceiling that the bulls have been unable to overcome.
Meanwhile, the Relative Strength Index (RSI) has fallen further into negative territory to 38, suggesting intensified selling pressure, and the Moving Average Convergence/Divergence Indicator (MACD) histogram remains flat and in negative territory. red, indicating that any recovery attempt lacks strong momentum. Unless the pair can achieve a sustained push above the 20-day SMA, the overall technical outlook will likely remain tilted to the downside.
Looking ahead, market participants will be watching for any fundamental catalysts or risk events that could spark renewed buying interest. However, with momentum indicators pointing south, EUR/USD appears vulnerable to further weakness unless the bulls manage to overcome nearby resistance levels.
EUR/USD Daily Chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
