EUR/USD Technical Analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
EUR/USD on the daily chart (1D) continues to trade inside an overarching descending wedge and channel structure, currently changing hands at 1.13765 (-0.02%) and remaining well below its declining 20-day SMA at 1.15060. The pair is actively testing key horizontal support along the dashed red line near 1.1370 and the descending channel's lower boundary line, which previously served as a solid demand floor during June and July. As long as this pivotal support shelf holds on a daily closing basis, a technical mean-reversion bounce toward the 20-day SMA (1.1506) and the upper descending resistance boundary around 1.1550–1.1600 remains viable; conversely, a sustained breakdown below this support would open the door for extended losses toward the 1.1300 psychological handle.




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