The EUR/USD maintained the bearish route, falling for a sixth consecutive week to reach a two-month low of 1.0765. The pair heads into the close tradi
pair is poised to fall further, although the extent of the decline from 1.1275 lifts the odds of a corrective advance. The weekly chart shows that these days’ high converges with a flat 20 Simple Moving Average while buyers tried to defend the downside at around a bearish 100 SMA. The Momentum indicator does not provide directional clues, stuck around its 100 level, but the Relative Strength Index indicator heads firmly south at around 47, anticipating lower lows ahead.
A weekly close around the current levels should encourage sellers next week. The following relevant support level and a potential bearish target come at 1.0732, the June 12 low, while a break below the latter exposes the 1.0660 price zone. Resistance can be found at 1.0840 and 1.0920, while beyond the latter, a test of the 1.1000 figure will be on the cards. shows speculative interest in the near term but also that most analysts are betting for a tide change.
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