“¢ The pair remained under some selling pressure for the third consecutive session and extended the post-FOMC rejection slide from a descending trend-line resistance.
“¢ The mentioned trend-line extends from March 20 through April 17 swing high and might now act as an important pivotal point for the pair’s next leg of a directional move.
“¢ The overnight slide below 100-hour SMA was seen as a key trigger for bearish traders and one of the key factors prompting some follow-through technical selling.
“¢ Meanwhile, technical indicators on 4-hourly/daily charts maintained their bearish bias and support prospects for the resumption of the well-established downtrend.
“¢ However, oscillators on the 1-hourly chart have moved on the verge of falling into oversold territory and might help limit further losses ahead of the flash Euro-zone inflation figures.
EUR/USD 1-hourly chart
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