Euro Technical Outlook: EUR/USD Bulls Face Critical Test After Support Rebound
Euro Technical Outlook: EUR/USD Multi-Timeframe Analysis
EUR/USD technical analysis shows the euro rebounding off major long-term support after a five-week slide, while its broader downtrend stays intact. Michael Boutros, StoneX Media Senior Market Analyst, walks through the euro's monthly, weekly, daily and four-hour charts and the momentum signals behind the move. Monthly RSI on EUR/USD has broken below 50 for the first time in more than a year, even as daily momentum recovers from oversold conditions. Political unrest in France has pushed the spread between French and German government bond yields wider, adding volatility to the euro. Eurozone consumer confidence and same-day U.S. and eurozone PMI releases bring the next round of event risk for the pair.
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--- Written by Michael Boutros, Senior Technical Strategist
Follow Michael on X @MBForex
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