EUR/USD Price Analysis: Euro dives out of 4-month ascending trendline

  • EUR/USD's downside break of a crucial rising trendline has exposed deeper support levels. 
  • The daily chart RSI is also aligned in favor of the bears. 

EUR/USD is flashing red at press time, having dived out of an ascending trendline rising from May 14 and July 10 lows. 

The violation of the four-month bullish trendline is backed by a below-50 or bearish reading on the 14-day relative strength index.,

As such, the pair looks set to test the 50-day simple moving average (SMA), currently at 1.1743. Acceptance below the major average would expose the horizontal support at 1.1696 (Aug. 3 low). 

The pair is currently trading ner 1.1776, representing a 0.30% decline on the day. A close above the Sept. 10 high of 1.1918 is needed to put the bulls back into the driver's seat. 

Daily chart

Trend: Bearish

Technical levels


Today last price 1.1776
Today Daily Change -0.0023
Today Daily Change % -0.30
Today daily open 1.1816
Daily SMA20 1.1841
Daily SMA50 1.1734
Daily SMA100 1.142
Daily SMA200 1.1215
Previous Daily High 1.1883
Previous Daily Low 1.1788
Previous Weekly High 1.1918
Previous Weekly Low 1.1753
Previous Monthly High 1.1966
Previous Monthly Low 1.1696
Daily Fibonacci 38.2% 1.1824
Daily Fibonacci 61.8% 1.1846
Daily Pivot Point S1 1.1775
Daily Pivot Point S2 1.1734
Daily Pivot Point S3 1.168
Daily Pivot Point R1 1.187
Daily Pivot Point R2 1.1924
Daily Pivot Point R3 1.1964



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