EUR/USD Holds Its Breath: Fall or Rebound?
The EUR/USD pair traded slightly around 1.1650 in Asian trading on Wednesday, after posting modest losses in the previous session. The 14-day Relative Strength Index (RSI) indicator is at 40, indicating weak momentum, but not yet in oversold territory. This suggests the market is still weighing its next direction before a sharper move.
Technically, EUR/USD is below the horizontal nine- and 50-day moving averages (EMAs). The nine-day EMA has fallen below the 50-day EMA, reinforcing a short-term bearish signal. If selling pressure persists, the pair risks breaking through the six-week low of 1.1589. If it falls further, the next target is 1.1468, its lowest level since August 2025.
On the upside, the pair could find resistance at the nine-day EMA at 1.1672 and the 50-day EMA at 1.1677. A rebound above this zone could trigger a recovery towards a three-month high of 1.1808, even challenging 1.1918, the highest level since June 2021. The market now appears cautious, awaiting new catalysts before determining the next trend. (az)
Source: Newsmaker.id