EUR/USD Technical Analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
EUR/USD is currently in a bearish phase on the 4-hour chart. The 24-period SMA has crossed below the 100-period SMA, which signals a shift from the consolidation or mild bullish bias seen in February to a more defined downtrend in March. Price is trading below both moving averages, and these averages are now acting as dynamic resistance. The sharp drop earlier in March reflects strong selling pressure and confirms the bearish momentum.

In terms of levels, 1.16870 is the nearest resistance. It previously acted as support and could now cap any short-term bounce. Above that, 1.18110 is the major resistance and marks the area where the strong sell-off began. On the downside, price is currently hovering around 1.15900, which is acting as immediate support and a psychological floor that has slowed the decline. If this level breaks, the next potential downside targets are 1.14900 and 1.13800.



The RSI (24) is around 36.7, which is close to the oversold region but not fully there yet. This suggests sellers still have control, although momentum is beginning to slow. There is also a slight hint of bullish divergence forming, as price continues to make lower lows while the RSI is starting to curve upward. This can sometimes indicate that selling pressure is weakening in the short term and may lead to a corrective bounce, possibly toward the 24-period SMA before the broader trend decides its next move.
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