FX.co ★ EUR/USD

EURUSD TECHNICAL ANALYSIS Chart Overview The H1 chart shows EURUSD trading around *1.1628* with a clear downward bias. The price action is boxed between a falling trendline (acting as resistance) and a horizontal support zone near the recent lows. The blue line is a longer‑term moving average (probably a 200‑period MA) that’s capping the upside, while the red line is a shorter MA tracking the recent bearish momentum. Support & Resistance Analysis 1. *Resistance*: The nearest resistance sits at the red trendline & the 1.1640‑1.1650 zone, reinforced by the blue MA. Breaking above this area would signal a potential reversal. 2. *Support*: The immediate support is around *1.1620*, the recent swing low. If this level cracks, we could see a deeper drop toward 1.1600 or lower. 3. *Trend*: The overall bias is bearish – lower highs & lower lows – so the focus should be on short‑selling rallies to resistance or waiting for a confirmed break of support. Volume Indicator Insights The volume panel shows sporadic spikes, most of them green (buying pressure) but weakening in size as the price drifts down. Key observations: Low volume on the recent down‑moves suggests the sell‑off lacks strong conviction. A sudden volume surge near support could hint at accumulation or a potential bounce. Use volume to confirm breakouts: a breakout with rising volume adds credibility to the move. RSI (14) Analysis The RSI hovers around *43.04*, slipping below the 50 mid‑line, indicating bearish momentum. Details: RSI is not in oversold territory (