Hello, dear traders. The EUR/USD pair continues to lose ground for the sixth consecutive session, trading near the 1.0610 level during the Asian session on Tuesday. The strengthening of the US dollar is putting pressure on the pair, possibly influenced by higher US Treasury bond yields. A break below the 2024 low of 1.0621 may once again draw attention to the November 2023 low of 1.0516, reached before the weekly low of 1.0495. On the other hand, the EUR/USD pair is expected to encounter resistance early in the morning at the key 200-hour moving average of 1.0625, before the April peak of 1.0785, followed by the March peak of 1.0981 and the weekly high of 1.0998, preceding the psychological barrier at 1.1000. On the 4-hour chart, it can be seen that the bearish trend remains intact. In this context, initial support is found at 1.0621, followed by 1.0516. On the other hand, there is initial resistance for growth at 1.0780 and the 100-month moving average at 1.0790. The Moving Average Convergence Divergence (MACD) indicator has not yet crossed into negative territory, while the Relative Strength Index (RSI) has dropped to the 20 level. Today is a good day to sell. Wishing everyone successful trading and plenty of profits.
Ulasan: