EUR/USD could maintain its decline

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs28%27%3.3%
Shorts72%73%-1.3%
Indicator4H1D1W
MACD(12;26;9)SellBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellBuySell
SAR(0.02;0.2)SellBuyBuy
Aggregate

Yesterday, the EUR/USD currency pair traded sideways, trying to surpass the resistance level formed by the 200-hour SMA and the weekly PP at 1.1281. During today's morning, the pair reversed south.  

Note, that the exchange rate is supported by the monthly R1 at the 1.1254 mark. If the given support holds, it is likely, that the rate could trade sideways along it in the nearest future. 

Otherwise, it is expected, that the pair could maintain its decline. Note, that the nearest support level—the weekly S1, is located at 1.1214.  

It is unlikely, that some upside potential could prevail in the market, as the rate is pressured by the 55– and 100-hour SMAs, currently located circa 1.1300.

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