EUR/USD technical analysis: MACD turns bearish with 21-DMA, 23.6% Fibo. be key nearby resistance
|- EUR/USD seesaws near two-week low while being under 1.1157/60 confluence.
- MACD flashes bearish signals.
Following its drop to early-month levels, the EUR/USD pair takes the rounds to 1.1108 during Friday’s Asian session.
12-bar moving average convergence and divergence (MACD) indicate bearish signal for the pair, which in turn highlights 1.1100, 1.1070 and 1.1060 as near-term key supports ahead of pushing bears towards recent low near 1.1027.
In a case prices slip below 1.1027, 1.1000 and 1.0980 could become sellers’ favorites.
Meanwhile, 1.1130 can offer immediate resistance to the pair whereas 23.6% Fibonacci retracement of January-August downpour and 21-day simple moving average (DMA) could restrict further upside around 1.1157/60.
If prices rally beyond 1.1160, June month low at 1.1181 gain market attention.
EUR/USD daily chart
Trend: Bearish
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