EUR/USD Still Below 1.0990

Currency exchange rate board of multiple currencies
On a Daily Chart, EUR/USD has challenged a Short-term Key Resistance at 1.0990, but has not yet closed above that level on a Daily Basis.

Therefore, a Bullish Reversal has not yet been confirmed.

Source: GAIN Capital, TradingView

On an Intraday 30-Minute Chart, however, EUR/USD is striking against the Lower Bollinger Band calling for acceleration to the downside.

The 20-period moving average has just crossed below the 50-period one, holding the intraday outlook as bearish.

Trading below the Intraday Key Resistance at 1.0980 within the day, EUR/USD should encounter Downside Support at 1.0935 and 1.0920.

Source: GAIN Capital, TradingView

Related tags: Dollar Forex

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