EUR/USD Price Analysis: Edges lower toward 1.1400 zone despite bullish trend structure
|- EUR/USD trades near the 1.1400 zone after slipping modestly post-European session.
- Despite today’s pullback, technicals remain constructive with MACD signaling a buy.
- Support comes in at 1.1322, 1.1184, and 1.1153, while resistance awaits at 1.1363 and 1.1454.
The EUR/USD pair eased lower on Wednesday, retreating slightly toward the 1.1400 zone after a recent bullish streak. While the pair dipped by around half a percent during the session, it remains confined within a healthy daily range between 1.1307 and 1.1440, showing signs of consolidation rather than reversal.
Momentum indicators offer a mixed view. The Relative Strength Index (RSI) is holding in neutral territory near 64, suggesting neither overbought nor oversold conditions. The Moving Average Convergence Divergence (MACD), however, continues to flash a buy signal, underpinning the broader bullish sentiment. Meanwhile, the Williams Percent Range and Bull Bear Power both show neutral readings, reinforcing the short-term indecision.
On the downside, support is located at 1.1322, followed by deeper levels at 1.1184 and 1.1153. Resistance lies overhead at 1.1363 and extends to 1.1454. While today's minor pullback could signal cooling momentum, the underlying bullish bias remains intact as long as the pair holds above key short-term averages.
EUR/USD Daily chart
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