EUR/USD Price Analysis: Tests The Lower Boundary Of The Descending Channel Around 1.0800
EUR/USD retraces its recent losses from the previous session, trading around 1.0800 during the Asian hours on Friday. The analysis of the daily chart indicates that the pair is following the lower boundary of a descending channel, which suggests a reinforcement of the bearish trend.
Additionally, the 14-day Relative Strength Index (RSI), a momentum indicator, remains below the 50 level, confirming the bearish sentiment for the EUR/USD pair. Should the RSI approach the 50 level, it could diminish the bearish bias and offer some support for the pair.
On the downside, a break below the lower boundary of the descending channel around the level of 1.0800 could reinforce the bearish sentiment and exert pressure on the EUR/USD pair to navigate the region around the key level of 1.0670, potentially serving as a throwback support level.
In terms of resistance, the EUR/GBP pair may face a barrier around the nine-day Exponential Moving Average (EMA) at 1.0825, and further resistance could be at the upper boundary of the descending channel around 1.0850. A breakout above this level might drive the pair back to the four-month high of 1.0948.
EUR/USD: Daily Chart
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Euro PRICE Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the British Pound.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.06% | 0.09% | -0.10% | -0.08% | -0.14% | -0.02% | -0.17% | |
| EUR | 0.06% | 0.15% | -0.05% | -0.03% | -0.07% | 0.04% | -0.10% | |
| GBP | -0.09% | -0.15% | -0.21% | -0.17% | -0.24% | -0.10% | -0.23% | |
| JPY | 0.10% | 0.05% | 0.21% | 0.03% | -0.04% | 0.07% | -0.05% | |
| CAD | 0.08% | 0.03% | 0.17% | -0.03% | -0.06% | 0.08% | -0.07% | |
| AUD | 0.14% | 0.07% | 0.24% | 0.04% | 0.06% | 0.14% | -0.02% | |
| NZD | 0.02% | -0.04% | 0.10% | -0.07% | -0.08% | -0.14% | -0.12% | |
| CHF | 0.17% | 0.10% | 0.23% | 0.05% | 0.07% | 0.02% | 0.12% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
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Disclosure: Information on this article contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes ...
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