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EUR/USD - Daily

Chart & Data from IG

By Minipip
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The EUR/USD pair has now dipped below the 100-day moving average. Further support is sitting at €1.0631 and then a fundamental level at €1.0516.

Taking a quick look at the euro versus the dollar, the Euro is currently trading at around €1.0797 against the dollar. We can see that on the daily timeframe that the price has now dipped below the 100-day moving average, further support sits at €1.0631 (white trendline). A break below the white trendline could see the price retrace lower towards the key level sitting at €1.0516 (red trendline). Towards the upside, the previous support along the 100-day MA is now acting as resistance at €1.0817. A move above the 100-day MA may see the euro climb back up to roughly the €1.0900 level. Looking at the technical indicators, the MACD remains strongly negative and so is the RSI as it reads 37.

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