Downtrend extended through the week after the Fed's hawkish hold lifted the dollar, dragging EUR/USD from ~1.1620 down to retest the 3-month low near 1.1411. Price sits below both EMA20 and EMA50 with RSI back near 32, the deepest reading of the move. The 1.1411 base from March is the line being probed; demand has so far held the close above it.
Support: 1.1411, 1.1418
Resistance: 1.1460, 1.1589, 1.1621
What it said to watch
Daily close below 1.1411 confirms a fresh lower low and breakdown
Recovery and close above the 1.1460 supply band eases downside pressure
Lagarde speeches Mon and Eurozone flash PMIs Tue could materially shift this read
21:01 UTC
Downtrend, momentum building · RSI 37 · price 1.14709
Lower highs since April, testing 3mo low.
EUR/USD has ground lower since the April peak near 1.1850, carving a clean chain of lower highs. The latest leg accelerated this week after the Fed's hawkish hold lifted DXY to a one-year high, dragging price from 1.1620 down to retest the 3-month low at 1.1411. It now sits below a falling EMA(50) with RSI near oversold but not yet at an extreme.
Support: 1.1411, 1.1410
Resistance: 1.1460, 1.1589, 1.1621
What it said to watch
D1 close below 1.1411 confirms a fresh lower low
Reclaim of 1.1460 would signal short-covering toward the prior range
Lagarde speeches Mon and eurozone flash PMIs Tue could shift this read