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EUR/USD declines to 1.0820, support at 1.0730

fxstreet.com —

The EUR/USD currency pair fell again on Friday, closing near the 1.0820 level. This marks the third consecutive day of losses for the euro against the dollar. Immediate support is expected in the 1.0780 to 1.0730 range, where key moving averages have crossed. If the price breaks below this level, it could lead to further declines toward 1.0660. On the other hand, if buyers regain momentum, resistance levels are found at 1.0900 and 1.1000. A bullish crossover in the 100-day and 200-day Simple Moving Averages this week offers some support near the 1.0730 area. This could help cushion the euro’s decline even as selling pressure remains strong. Momentum indicators show a drop in bullish strength, with the Relative Strength Index moving closer to neutral. Additionally, the Moving Average Convergence Divergence indicator has turned negative, signaling weakening short-term momentum. Overall, after a robust rally earlier this month, the euro has lost over 1% in value this week. Despite these losses, structural support remains intact beneath current price levels.

With a significance score of 2.5, this news ranks in the top 33% of today's 15037 analyzed articles.

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Timeline:

    [2.4]
    EUR/USD declines to 1.0830 as bearish pressure increases (fxstreet.com)
    1d 22h
    Source