EUR / USD currency pair develops a downtrend on the daily timeframe. Now the pair is trading in the area of 1.1780.
The next support is at the level of 1.1700. Resistance is in the crossing zone (MA100 and MA200) 1.1970 – 1.2000.
The technical picture suggests a continuation of the downtrend with a downside potential to 1.1430.
The divergence on the RSI indicator favors the continuation of the downtrend of EUR / USD.
A signal against the continuation of the pair’s decline will be the quotes growth above 1.2270, a breakdown from the bottom of the upper line of the downtrend, (MA100 and MA200), what will mean a possible change in the trend on the daily timeframe.
Created by Joshua Hayn
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