EUR/USD Technical analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
EUR/USD remains in a primary downtrend, trading below the 90-period simple moving average, which keeps the broader bias bearish. That said, heavy selling pressure has eased and the pair is now consolidating. Momentum is neutral, with RSI near 50, showing balance between buyers and sellers. Price has repeatedly failed near 1.1693, where sellers continue to defend aggressively, while buyers are clearly stepping in around the strong support at 1.1621.



This sets up a clear tug of war. Bears control the trend as long as price stays below the moving average and under 1.1693. Bulls are encouraged by the RSI recovery and repeated rebounds from support. In the near term, EUR/USD is likely to trade sideways between 1.1655 and 1.1693. A break above 1.1693 would open the door toward 1.1720, while a drop below 1.1655 would increase the risk of a retest of 1.1621.
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