Euro to US dollar exchange rate holds near support amid persistent downside momentum

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Euro vs Dollar slides 0.67% today

Highlights

EUR/USD trades below key moving averages on both hourly and daily charts, indicating sustained downtrend pressure.
Momentum indicators remain bearish, with strong oversold readings and continued dominance from sellers.
Over the next 2 to 3 trading days, EUR/USD is projected to stay between $1.1067 and $1.1179 with a high probability of further declines.

Oversold signals intensify as sellers dominate below resistance

On the hourly chart, EUR/USD remains below MA-20 at $1.1193 and MA-50 at $1.1182, while on the daily chart, it sits well below MA-200 at $1.1544. The Ichimoku Kijun at $1.1169 serves as immediate resistance. Momentum signals, including MACD and ADX, reinforce seller dominance, and RSI at 18, CCI, and Stoch RSI all indicate strong oversold conditions. Bull/Bear Power continues to reflect intraday selling strength, while the Awesome Oscillator is neutral and does not reinforce the prevailing trend. The pair is currently trading near the low of today's range with muted volatility.

Downside favored as upside breakout faces low odds

Over the next 2–3 trading days, EUR/USD is anticipated to remain within a volatility band between $1.1067 and $1.1179. The probability of a move to the upside is very low while the likelihood of further downside is high. Base case expectations are for price to consolidate within this corridor; a bullish outcome would require a breakout above immediate resistance, while a breach of support could trigger further declines.

Viktoras Karapetjanc, Traders Union expert, sees EUR/USD under sustained pressure as technical signals confirm broad selling and oversold momentum. He notes that the pair remains well below major moving averages, with sentiment and macro factors keeping downside risks elevated. The analyst expects range-bound action to persist in the short term unless key resistance levels are reclaimed. "The outlook favors further downside for EUR/USD, but any bullish reversal will require a clear break above immediate resistance," Karapetjanc says.

Earlier, analysts noted that EUR/USD was struggling to overcome resistance levels amid persistent downside pressure and uncertain macroeconomic drivers. The current technical picture reinforces this bearish outlook, highlighting the importance of the $1.1067 support as a critical threshold for potential further declines in the days ahead.

Source of Data: EUR Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.