EUR/USD Technical Analysis: Bearish view unchanged while below the resistance line at 1.1406

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  • EUR/USD remains sidelined in the 1.1300 neighbourhood following last week’s drop to the 1.1280/70 band.
  • The pair came under downside pressure after last week’s up move failed to convince market participants above the key barrier at 1.1400 the figure, coincident with the 5-month resistance line.
  • Furthermore, the negative stance on the pair is expected to prevail as long as this resistance line caps the upside, today at 1.1406.

EUR/SD daily chart

 

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