Technical weakness and resistance at $1.1595: Euro vs Dollar slips lower

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Euro vs Dollar drops 0.50% today

Highlights

EUR/USD remains under sustained bearish pressure, trading below key moving averages across all timeframes.
Momentum indicators and oscillators confirm a strong downward trend, with persistent seller dominance and moderate daily volatility.
Expect continued sideways-to-lower price action within the $1.1450–$1.1490 range, with low probability of sustained upside.

Bearish momentum prevails amid oversold signals and resistance tests

EUR/USD is trading below key moving averages, with the Ichimoku Kijun level at $1.1595 serving as the nearest resistance. Momentum indicators on the daily chart, including both MACD and ADX, confirm strong bearish momentum. RSI and CCI remain in sell zones, while the Stoch RSI displays an overbought signal, suggesting the possibility of short-term rebound attempts despite prevailing downside pressure. BBP continues to indicate seller dominance, and the pair trades at session lows after completing an intraday pullback from earlier highs.

Sideways range expected as breakout risks favor further downside

Over the short term, price action in EUR/USD is expected to remain within a typical volatility band of $1.1450 to $1.1490 over the next five sessions. The probability of a sustained upward move is assessed at less than 20%, with further downside moves more likely. The baseline scenario anticipates sideways trading inside this range. A break above the $1.1595 resistance could shift the trend towards the SMA-20, while a move below $1.1450 may accelerate the decline if selling momentum persists.

Viktoras Karapetjanc, senior analyst at Traders Union, highlights that EUR/USD remains under pressure below all major moving averages. He sees strong bearish momentum reinforced by sentiment indicators, though short-term rebounds are not ruled out. The expert expects sideways trading inside $1.1450–$1.1490 to persist, with odds favoring renewed downside unless resistance at $1.1595 is reclaimed. "While the technical picture is clearly bearish, any positive shift in market sentiment or macro data could quickly improve the outlook for the euro," says Karapetjanc.

Earlier, analysts noted that bearish momentum continued to dominate EUR/USD, with persistent downside pressure prevailing across multiple timeframes. The current article reinforces this negative bias and highlights that traders should watch for a decisive move below $1.1450, as this could intensify downside risk 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.