EUR/USD: the consistent run of lower daily highs continues [Video]
![EUR/USD: the consistent run of lower daily highs continues [Video]](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/EURUSD/european-union-currency-5219766_XtraLarge.jpg)
EUR/USD
The euro continues to slip lower as the corrective move of the past couple of weeks pulls the market now under $1.1000. The support around $1.0990/$1.1000 is a key gauge that if gives way would open the lows around $1.0925 and the key medium-term support at $1.0875. We were discussing the RSI moving below 40 and MACD lines below neutral yesterday and this seems to be developing now. If this were seen as the market closed under $1.0990 it would be confirmation that a decisive corrective move was pulling EUR/USD lower. The consistent run of lower daily highs continues (now the past seven sessions) meaning that yesterday’s high of $1.1020 is initial resistance to watch. The hourly chart shows this as a pivot under $1.1040 as this week’s resistance. Support under $1.09090 comes in at $1.0940 now.
Author

Richard Perry
Independent Analyst


















