EUR/USD Price Analysis: Falls to near 1.0700 before a throwback support


  • The EUR/USD pair could test a throwback support at the 1.0670 level.
  • The daily chart suggests a bearish bias as the pair consolidates within a descending channel.
  • The immediate resistance appears at the 14-day EMA at the level of 1.0743.

EUR/USD extends its losses for the second consecutive day, trading around 1.0710 during the Asian session on Wednesday. A technical analysis of the daily chart suggests a bearish bias for the pair, as it consolidates within the descending channel.

Additionally, the 14-day Relative Strength Index (RSI) momentum indicator is positioned below the 50 level, suggesting a confirmation of a bearish bias for the EUR/USD pair.

The EUR/USD pair could find immediate support at the psychological level of 1.0700. A break below this level could exert downward pressure on the pair to test the throwback support at the level of 1.0670.

Further decline would strengthen the bearish bias, and the pair could navigate the region around the lower boundary of the descending channel near the 1.0640 level.

On the upside, the EUR/USD pair could meet the immediate barrier at the 14-day Exponential Moving Average (EMA) at 1.0743. A breakthrough above this level could lead the pair to test the area around the psychological level of 1.0800 and the upper boundary of the descending channel nearing the level of 1.0810.

Further resistance appears at the vicinity of the significant level of 1.0900 and a three-month high at 1.0915, which was recorded on June 4.

EUR/USD: Daily Chart

EUR/USD

Overview
Today last price 1.071
Today Daily Change -0.0004
Today Daily Change % -0.04
Today daily open 1.0714
 
Trends
Daily SMA20 1.0782
Daily SMA50 1.0773
Daily SMA100 1.0795
Daily SMA200 1.079
 
Levels
Previous Daily High 1.0744
Previous Daily Low 1.0691
Previous Weekly High 1.0762
Previous Weekly Low 1.0671
Previous Monthly High 1.0895
Previous Monthly Low 1.065
Daily Fibonacci 38.2% 1.0711
Daily Fibonacci 61.8% 1.0724
Daily Pivot Point S1 1.0688
Daily Pivot Point S2 1.0663
Daily Pivot Point S3 1.0635
Daily Pivot Point R1 1.0742
Daily Pivot Point R2 1.077
Daily Pivot Point R3 1.0795

 

 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Trading Pro
Read review
Pepperstone
Read review
Trading Pro
Read review
Pepperstone
Read review
Trading Pro
Read review
Pepperstone
Read review
XM
Read review
Moneta Markets
Read review
XM
Read review
Moneta Markets
Read review

Recommended content


Recommended content

Editors’ Picks

AUD/USD drifts lower toward 0.6300; looks to US NFP for fresh impetus

AUD/USD drifts lower toward 0.6300; looks to US NFP for fresh impetus

AUD/USD heads toward 0.6300 early Friday, resuming the pullback from near 0.6400. The pair remains on a slippery slope despite a weaker US Dollar. US-China trade tensions and increased odds of Trump's tariffs-led global recession undermine the risk-sensitive Aussie. All eyes on US NFP and Powell. 

AUD/USD News
USD/JPY holds recovery near 146.00; upside seems limited ahead of US NFP

USD/JPY holds recovery near 146.00; upside seems limited ahead of US NFP

USD/JPY trades close to 146.00, holding its recovery in the Asian session on Friday. Investors dial down bets of aggressive BoJ rate hikes, amid worries that Trump's new tariffs could negatively impact Japan's economy, helps the pair sustain its latest upswing. But buyers remain wary ahead of US NFP and Powell. 

USD/JPY News
Gold: Will Powell and Payrolls drive the next leg higher?

Gold: Will Powell and Payrolls drive the next leg higher?

Gold price is taking a breather early Friday after witnessing a volatile trading day on Thursday. Traders are consolidating the weekly gains, slightly away from the record high of $3,168, bracing for the US Nonfarm Payrolls report and US Federal Reserve Chair Jerome Powell’s speech for a fresh directional impetus.  

Gold News
What to expect from Bitcoin and XRP following Trump tariffs: Experts weigh in

What to expect from Bitcoin and XRP following Trump tariffs: Experts weigh in

Bitcoin stretched its decline on Thursday, briefly dropping below $83,000 as President Trump's newly announced reciprocal tariffs extended the crypto market downturn by over 4%. The sustained decline and high volatility highlight Bitcoin's increasing risk to macroeconomic uncertainties. 

Read more
Trump’s “Liberation Day” tariffs on the way

Trump’s “Liberation Day” tariffs on the way

United States (US) President Donald Trump’s self-styled “Liberation Day” has finally arrived. After four straight failures to kick off Donald Trump’s “day one” tariffs that were supposed to be implemented when President Trump assumed office 72 days ago, Trump’s team is slated to finally unveil a sweeping, lopsided package of “reciprocal” tariffs. 

Read more
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

Forex MAJORS

Cryptocurrencies

Signatures

Best Brokers of 2025