Home EUR/USD: Bears ready to act
FXStreet News

EUR/USD: Bears ready to act

EUR/USD remains depressed, hovering around the 1.0800 level, despite the market being in a better mood this Wednesday. Valeria Bednarik, Chief Analyst at FXStreet, sees the pair picking up bearish momentum below 1.0770.

Key quotes

“The EUR/USD pair is holding just below 1.0800 ahead of Wall Street’s opening, retaining its bearish stance. In the 4-hour chart, the pair is consolidating below a bearish 20 SMA, with the larger moving averages maintaining their bearish slopes far above the shorter one.” 

“The Momentum indicator heads lower just below its mid-line while the RSI consolidates around 31, all of which keeps the risk skewed to the downside.”

“Support levels: 1.0770 1.0725 1.0690.”

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.