On the technical side, the EUR/USD price has revisited the 1.1175 resistance level, where it has paused. At the same time, the RSI has made a bearish divergence, indicating fading bullish momentum. The price has remained in a bullish trend, making higher highs and lows. However, the RSI showed weakness in the most recent move.
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Therefore, there is a chance the price might reverse to challenge the 22-SMA and the bullish trendline. A break below these levels would clear the path to the 1.1000 support level. Here, bears will fight to break the previous low and start making lower highs and lows. Such a move would confirm the start of a bearish trend.
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Publish date : 2024-09-28 13:18:00
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