- The EUR/USD is quoted around the 1,0830 area, marking a strong daily fall.
- The pair continued its correction as expected, giving more ground with sellers looking towards a possible test of the 1,0800 area.
The EUR/USD moved down on Thursday after the European session, falling to the 1,0830 region as the bearish pressure intensified. The pair extended its fall after recent signs of an overextended bullish race, with sellers pushing to key levels.
The technical configuration shows an increase in the downward impulse. The relative force index (RSI) is in positive territory but falling sharply, reflecting a decreasing purchase interest. Meanwhile, the convergence/divergence indicator of mobile socks (MACD) is presenting decreasing green bars, reinforcing the bassist perspective.
At the bottom, the immediate support is found in 1,0800, a level that sellers can have as a objective. A rupture below this threshold could accelerate the bearish impulse, exposing the area of ​​1,0765. In the upper part, the resistance is observed about 1,0885, followed by a stronger limit in 1,0920. That said, an imminent bullish cross between the 20s and 100 days around 1,0700 could give the upward an advantage over the vendors.
EUR/USD daily graphics
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.
