EURUSD has been in a steady downtrend since the April rejection near 1.1850, carving lower highs and lower lows and printing 11-month lows this week as broad USD strength and a German services PMI miss weighed. Price pierced the 1.1400 psych level and trades below both EMA20 and EMA50, with RSI in the mid-30s but not yet at oversold extremes. The path of least resistance points toward SocGen's 1.1390/1.1350 supports while the descending lower-high trendline caps rallies.
Support: 1.1400, 1.1390, 1.1350
Resistance: 1.1480
What it said to watch
Daily close below 1.1390 opens the path toward 1.1350 SocGen support
German IFO Wed 08:00 UTC could extend EUR pressure or trigger a relief bounce
Reclaim of the 1.1480 swing high would challenge the downtrend structure
EURUSD is in a clear D1 downtrend, carving lower highs and lower lows since the late-February break and now printing fresh 11-month lows after piercing 1.1400 on broad USD strength. Price sits well below a falling EMA(50), and the German services PMI miss this week reinforced the leg lower toward SocGen's 1.1390/1.1350 supports. The twin 1.1850 highs in late Feb–early Apr capped the range and define the dominant swing being retraced.
Support: 1.14175, 1.1390, 1.1350
Resistance: 1.1470
What it said to watch
Daily close below 1.1390 confirms continuation toward 1.1350
Reclaim of 1.1470 would challenge the lower-high structure
German IFO (Wed 08:00 UTC) and US Core PCE (Thu) could materially shift this read