The Euro Continues to Decline Against USD

The negative movements still dominate the euro against the US dollar within a bearish trend towards the price target required to be achieved at 1.1200, recording its lowest level at 1.1186.

Technically, the momentum indicator still provides negative signals on the short intervals accompanied by the clear negative pressure on the 50-day moving average, which meets the 1.1280 resistance level.

Therefore, we keep our negative expectation, noting that confirming the breach of the demand level located around 1.1200 facilitates the task required to touch the 1.1150 and 1.1110 price area, respectively.

Activating the suggested bearish scenario depends on the stability of daily trading below the resistance level of 1.1280 and in general, below the previously broken support 1.1330.

S1: 1.1185	R1: 1.1255
S2: 1.1150	R2: 1.1285
S3: 1.1110	R3: 1.1330