Technical analysis of EUR / USD 07/14/2021

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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