EUR/USD bearish trend intact as volatility subsides, targets 1.0380
EUR/USD has declined 0.25% to 1.0415, maintaining its bearish trajectory as recent volatility normalizes and the downtrend resumes. The US Dollar Index holds firm at 107.60, supported by resilient US economic data and hawkish Fed commentary. Options market data shows reduced implied volatility, with one-week ATM volatility dropping to 7.2% from last week's 9.5% spike. Technical indicators confirm the bearish bias, with the pair trading below all major moving averages and MACD showing negative momentum. Key support levels lie at 1.0400 and 1.0380, while resistance is capped at 1.0450-1.0470 zone. European economic weakness persists, with German industrial production falling 1.5% month-over-month, contrasting with steady US manufacturing data. The bearish trend remains intact targeting 1.0380-1.0350, with any rallies likely to face selling pressure near 1.0450.
Related Symbols:
EURUSD
This is a summary of the original article by investing.com. To read the complete article, please visit the source website:
Read Full Article at investing.comNews data provided by Marketaux. ForexSentiment.live provides this summary as a convenience with proper attribution to the original source. The full article is available at the original publisher's website.
