EUR/USD Drops, Bearish Bias Persists Amid Dollar Strengthening
EUR/USD weakened to around 1.1610 during the Asian session, reflecting persistent selling pressure after the pair failed to maintain its recovery in the previous session. FXStreet assesses that the bearish bias remains intact as the price movement remains within a descending channel pattern on the daily chart.
Technically, FXStreet noted that EUR/USD traded around 1.1596–1.1625 in the latest update, with pressure increasing after the price fell below several moving averages that had previously supported momentum. The 1.1698–1.1770 area is considered a moving average zone that is now capping gains, reinforcing the "sell on rebound" narrative without altering the broader medium-term framework.
The euro's weakness also occurred as the dollar received support from safe-haven demand related to Middle East tensions and energy risks. Reuters reported that the dollar strengthened against the euro in recent sessions, as markets assessed the potential for energy shocks to complicate the inflation outlook and interest rate policy.
For future direction, the market is generally monitoring two groups of factors: geopolitical developments affecting energy prices and risk sentiment, and the response to US yields, which often anchor FX movements. Technically, market participants are also monitoring whether EUR/USD can regain ground above its nearest moving average or deepen its downward channel.(Cp)
Sumber: Newsmaker.id
