EUR/USD Slips: Bearish Vibes Grow, But Technical Support Stands Firm

The EUR/USD pair has slipped to around 1.0820 after Friday’s European session, marking a third straight day of declines and a weekly drop of over 1%. Momentum is turning sour, with the RSI plunging near neutral and the MACD flashing a fresh bearish signal, suggesting the earlier bullish wave is losing steam. Yet, a bullish crossover of the 100-day and 200-day SMAs near 1.0730 provides a firm technical base, tempering the downside pressure for now. Support sits at 1.0780-1.0730, with 1.0660 in sight if it gives way, while resistance looms at 1.0900 and 1.1000. EUR/USD teeters between fading momentum and a solid lifeline.

Traders are closely watching economic cues that could sway the pair. With the eurozone grappling with uneven growth and the U.S. dollar flexing on rate hike speculation, market sentiment remains jittery, fueling the pair’s volatility. This tug-of-war between fundamentals and technicals keeps EUR/USD on edge.

Looking ahead, the pair’s path hinges on whether buyers can reclaim momentum or sellers push through key supports. A break below 1.0730 could ignite a sharper sell-off, while a bounce toward 1.0900 might signal a revival of bullish hopes. For now, the market holds its breath.