The EUR/USD pair continues its downward trend, which started on January 27, trading around 1.0230 during the Asian session on Monday.
EUR/USD struggles as it is confined within a descending channel pattern. The 14-day RSI drops near the 30 level, indicating persistent selling pressure on the pair. The primary support appears at 1.0177, a 27-month low reached on January 14. A closer examination of the daily chart indicates that the bearish momentum is likely to persist, with the pair confined within a descending channel pattern.
On the upside, the EUR/USD pair could face initial resistance at the nine-day EMA around 1.0369. A breakout above this level could improve market sentiment, paving the way for a move toward the upper boundary of the descending channel at 1.0500. Further gains may bring the pair to the three-month high of 1.0630, reached on December 6. EUR/USD: Daily Chart Euro PRICE Today The table below shows the percentage change of Euro against listed major currencies today.
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