- EUR/USD is trading around the 1.1100 level following a sharp drop in Monday’s session.
- Short-term indicators suggest a bearish outlook, despite mixed long-term signals.
- Key support levels remain intact below, while resistance is clustered just above the current range.
The EUR/USD pair traded near the 1.1100 level on Monday, experiencing a sharp decline after the European session as sellers took control. The pair remains within the middle of its daily range, indicating that although bearish pressure is dominant, the market lacks a clear breakout signal. The technical outlook is mixed, with short-term indicators pointing to further downside, while longer-term signals provide a more supportive foundation.
From a technical perspective, the pair is showing a bearish overall signal. The Relative Strength Index is in the 40s, indicating neutral conditions without immediate oversold pressure. The Moving Average Convergence Divergence (MACD) is delivering a solid sell signal, confirming the recent downward momentum. The Awesome Oscillator hovers around zero, reflecting neutral momentum, while the Ultimate Oscillator remains in the 30s, reinforcing a cautious tone.
Short-term trend indicators are firmly bearish. Both the 10-period Exponential and Simple Moving Averages are near the current price and slope downward, signaling immediate selling pressure. In contrast, the longer-term 100-day and 200-day Simple Moving Averages are well below the current level and continue to slope upward, indicating broader structural support despite the recent pullback.
Key support levels are at 1.1082, 1.1073, and 1.0909, while resistance is located at 1.1192, 1.1202, and 1.1225. A sustained drop below the immediate support zone could intensify the decline, while a recovery above resistance would be necessary to challenge the current bearish outlook.
Daily Chart
