- EUR/USD trades near the zone of 1,0800, after Monday’s European meeting slightly lower.
- The Bearish Momentum is being built when the couple expands their loss to four consecutive sessions.
- The disadvantage could accelerate towards 1.0730 if the seller breaks the current level of support.
During Monday’s session after the European closure, EUR/USD continued retreat and last saw as it moves around the area of ​​1.0800. The pair remains in the right phase after their strong March rally, with technical signals that now prefer further pressure of disadvantages. The latest price action means the fourth consecutive loss, suggesting that the bulls will retreat for the time being.
From a technical point of view, the relative force index (RSI) decreased sharply, but still remains deep in a positive area near 60, which indicates that the couple can continue to repair until the driving force is reset. Meanwhile, moving average divergence convergence (MACD) began to print red stripes, emphasizing the shift in momentum, which supports further pressure of the disadvantages.
Other critical support comes into the game around the region 1.0730, where the 100 -day and 200 -day simple moving averages are converging. The break under this floor could strengthen the bear case and open the door towards 1.0670. On the other hand, any bull recovery would probably find the initial resistance near 1.0860, followed by a psychological handle of 1,0900.
