EURUSD continues to decline after breaking below EMA34 and EMA89. Price is currently trading near 1.1650, while strong bearish momentum confirms sellers remain in control.
The key support at 1.1700 has already been broken decisively. If price stays below this zone, EURUSD could continue falling toward 1.1620 and potentially 1.1580.
The main driver behind the move is USD strength following stronger-than-expected US CPI and PPI data. Sticky inflation has reduced expectations for Fed rate cuts and pushed US bond yields higher.
Meanwhile, Europe’s economy continues to show weaker growth signals, while the ECB remains more dovish than the Fed, adding further pressure on the euro.
Technically, EMA34 crossing below EMA89 and both EMAs turning downward suggest bearish momentum is strengthening further.
The key support at 1.1700 has already been broken decisively. If price stays below this zone, EURUSD could continue falling toward 1.1620 and potentially 1.1580.
The main driver behind the move is USD strength following stronger-than-expected US CPI and PPI data. Sticky inflation has reduced expectations for Fed rate cuts and pushed US bond yields higher.
Meanwhile, Europe’s economy continues to show weaker growth signals, while the ECB remains more dovish than the Fed, adding further pressure on the euro.
Technically, EMA34 crossing below EMA89 and both EMAs turning downward suggest bearish momentum is strengthening further.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.