EUR/USD chart - Trading View
Technical Analysis: Bias Bearish
Support: 1.0879 (Oct 1st low); Resistance: 1.0949 (5-DMA)
EUR/USD was trading largely rangebound on the day, with session highs at 1.0917 and lows at 1.0905.
The pair has paused downside at minor trendline support at 1.0907, break below will see resumption of weakness.
Technical indicators are strongly bearish. MACD and ADX support the current downtrend.
Major and minor trend as evidenced by the GMMA indicator are bearish. That said, oversold oscillators raise scope for some upside.
5-DMA is immediate resistance at 1.0950. Break above could see test of 200H MA at 1.1007.
On the downside, break below minor trendline support at 1.0907 finds next major support at 1.0879 (Oct 1st low) ahead of 1.0854 (76.8% Fib).
