EUR/USD is breaking down after failing to hold the 1.1200 resistance level. The pair is now testing support at the 50-day SMA near 1.1110, with momentum clearly shifting bearish:
📉 MACD has rolled over into negative territory
📊 RSI at 43 and trending lower
🔵 Next support zone: 1.1040 (38.2% Fib of March–April rally)
🔵 Further levels to watch:
1.0875 = 50% retracement
1.0710 = 61.8% Fib and near the 200-day SMA
A close below 1.1100 would confirm the bearish reversal and increase risk of a deeper correction toward the mid-1.08s.
-MW
📉 MACD has rolled over into negative territory
📊 RSI at 43 and trending lower
🔵 Next support zone: 1.1040 (38.2% Fib of March–April rally)
🔵 Further levels to watch:
1.0875 = 50% retracement
1.0710 = 61.8% Fib and near the 200-day SMA
A close below 1.1100 would confirm the bearish reversal and increase risk of a deeper correction toward the mid-1.08s.
-MW
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.