EUR/USD Price Analysis: Remains Stable Near 1.0930, Bearish Sentiment Looms

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  • EUR/USD moves sideways post recent losses amid a stable US Dollar.
  • The major level at 1.0950 appears to be an immediate resistance level.
  • A break below the 1.0900 could lead the pair to navigate the 50-day EMA at 1.0888.
  • EUR/USD consolidates after posting recent losses in the previous session, trading near 1.0930 during the Asian session on Wednesday. The EUR/USD pair could meet the barrier at the major level at 1.0950 following the psychological resistance area at 1.1000.A breakthrough above the psychological level could support the EUR/USD pair to revisit the previous week’s high at 1.1038 level. However, the 14-day Relative Strength Index (RSI) for the EUR/USD pair has dropped below the 50 mark, signaling a bearish momentum.In addition, the Moving Average Convergence Divergence (MACD) line, while still above the centerline, is showing divergence below the signal line, hinting at a potential shift toward a downward trend. Traders may exercise caution and await confirmation before making decisions in the pair.On the downside, the EUR/USD pair could meet immediate support at the psychological level of 1.0900. If this level is breached decisively, it could exert downward pressure on the pair, potentially leading it toward the 50-day Exponential Moving Average (EMA) at 1.0888, followed by the 38.2% Fibonacci retracement level at 1.0867 and significant support at 1.0850. Traders may closely monitor these levels for potential price movements.EUR/USD: Daily Chart


    OVERVIEW Today last price 1.0931 Today Daily Change 0.0003 Today Daily Change % 0.03 Today daily open 1.0928


    TRENDS Daily SMA20 1.0978 Daily SMA50 1.0878 Daily SMA100 1.0764 Daily SMA200 1.0847


    LEVELS Previous Daily High 1.0966 Previous Daily Low 1.091 Previous Weekly High 1.1046 Previous Weekly Low 1.0877 Previous Monthly High 1.114 Previous Monthly Low 1.0724 Daily Fibonacci 38.2% 1.0932 Daily Fibonacci 61.8% 1.0945 Daily Pivot Point S1 1.0904 Daily Pivot Point S2 1.0879 Daily Pivot Point S3 1.0848 Daily Pivot Point R1 1.0959 Daily Pivot Point R2 1.0991 Daily Pivot Point R3 1.1015

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