- EUR/USD was seen trading all over the 1.0820 region after the European session, and it decreased for a third consecutive day.
- Despite the disposal of more than 1 % this week, the last bullish intersection between Smas 100 and 200 days may provide a strong base.
- The momentum indicators turn to the landing, with the RSI decreased sharply and the MACD print fresh red strip.
EUR/USD decreased in Friday’s session after the European closure, where he moved near the 1.0820 area where the husband achieved a third consecutive day in red. After a strong gathering earlier this month, the pair has lost more than 1 % this week, with momentum indicators now flying. However, structural support remains firm as the main averages are in line with current price levels.
The RSI index has declined sharply inside the positive lands and now hovering near the neutral, which hints to the momentum of ascension. Meanwhile, the MACD conversion to the direction, printing fresh red strip, confirming the weakness of the short term.
From a broader perspective, a bullish intersection was formed between the simple moving averages of 100 days and 200 days this week, which constitutes a solid technical floor near the 1.0730 area. This development helps to expand the negative side, even if sellers continue to influence the husband in the short term.
Looking forward, immediate support is seen in the 1.0780-1.0730 area, where the average intermediate interference occurred. The rest below can offer more losses to 1.0660. On the upper side, the resistance is now located at 1.0900, followed by 1.1000 must be restored.
The euro graph/daily dollar
