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  • EUR/USD trades 0.71% lower for the session on Thursday.
  • The chart broke the 30-minute chart pattern to the downside.

EUR/USD 30-min chart

EUR/USD has also succumbed to the barrage of dollar strength on Thursday but the EUR did hold firmer than some of its other major counterparts as the likes of AUD//USD fell over 2%. 

On the 30-minute chart below, the black triangle pattern was broken at around 5pm London time and the sell-off resumed. The market has met some support at the 1.13 level as the drop has stalled somewhat. 

The technical indicators have also turned bearish as the Relative Strength Index moved into the oversold zone. The MACD is also bearish too as the histogram is red and the signal lines are firmly below the mid-zone. The next support on the downside is holding at around 1.1246 and if this level breaks then a further correction could be on the cards.

EUR/USD triangle pattern break

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