From a technical point of view, EUR/USD has broken below a rising trend line in place since March bottom and remains capped by its 50-day moving average (in blue). The daily RSI stands within its selling area just below 50. Readers may therefore consider the potential for further weakness below horizontal resistance at 1.1030. The nearest support would be set at horizontal support at 1.0780 and a second one would be set at set at March bottom at 1.0630 in extension.
Source: TradingView, GAIN Capital