EUR/USD technical analysis: Gradually declines to revisit short-term rising support-line

21-DMA limits near-term EUR/USD upside, highlights 4-week old support-line for sellers.
Steady RSI and sustained trading below 23.6% Fibonacci retracement favor declines.

Anil Panchal FXStreet

In addition to remaining below the 21-day moving average (21-DMA), the EUR/USD pair’s decline below 23.6% Fibonacci retracement of January – May south-run also portrays the quote’s weakness as it makes the rounds to 1.1216 on early Monday.

However, a daily closing below an ascending trend-line since June 18, at 1.1203, becomes necessary for the pair to lure the sellers.

Should the 14-day relative strength index (RSI) also support the downside, current month low surrounding 1.1193 and June month bottom close to 1.1181 seem to be on bears’ radar ahead of watching over 1.1130 and 1.1100 key supports.

On the contrary, 1.1240 can entertain short-term buyers while 21-DMA figure of 1.1270 and the 1.1300 round-figure may question further upside.

EUR/USD daily chart

Trend: Bearish

additional important levels

Overview
Today last price	1.1218
Today Daily Change	-4 pips
Today Daily Change %	-0.04%
Today daily open	1.1222

Trends
Daily SMA20	1.1282
Daily SMA50	1.1246
Daily SMA100	1.1249
Daily SMA200	1.1318

Levels
Previous Daily High	1.1284
Previous Daily Low	1.1203
Previous Weekly High	1.1286
Previous Weekly Low	1.12
Previous Monthly High	1.1414
Previous Monthly Low	1.116
Daily Fibonacci 38.2%	1.1234
Daily Fibonacci 61.8%	1.1253
Daily Pivot Point S1	1.1189
Daily Pivot Point S2	1.1156
Daily Pivot Point S3	1.1109
Daily Pivot Point R1	1.1269
Daily Pivot Point R2	1.1316
Daily Pivot Point R3	1.1349

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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